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FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Please do not give solution in image format thanku

Transcribed Image Text:The table contains the Sales estimates for the next year.
Sales are collected as follows:
In the month of Sales: 27%
In the next month: 29%
After 2 months: 11%
After 3 months: remainder is collected
What is the cash collection for August?
Enter your answer rounded off to two decimal points. Do not enter $ or comma in the answer box.
Sales
Month
Jan
Feb
Mar
Apr
May
June
74,109
82,072
82,374
72,362
74,109
82,072
Month Sales $
July
Aug
Sep
Oct
Nov
Dec
72,362
82,374
74,109
82,374
82,072
72,362
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