Author Question: London Manufacturing Company expects the following sales in January, February, and March:Cash ... (Read 76 times)

lauraleepop · **on:** Feb 5, 2023

London Manufacturing Company expects the following sales in January, February, and March:

	Cash Sales	Credit Sales
January	$60,000	$270,000
February	$50,000	$240,000
March	$75,000	$355,000

The controller has determined that the company collects credit sales as follows: 60% in the month of sale, 30% in the first month after sale, 5% in the second month after sale, and 5% is expected to be uncollectible. How much cash will be collected from customers in March?
◦ $373,500
◦ $410,000
◦ $376,500
◦ $291,500

Sophia0717 · **Reply #1 on:** Feb 5, 2023

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