Kent company anticipates total sales for april may and june, Ask an Expert

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Kent Company anticipates total sales for April, May, and June of $800,000, $900,000, and $950,000 respectively. Cash sales are normally 25% of total sales. Of the credit sales, 30% are collected in the same month as the sale, 65% are collected during the first month after the sale, and the remaining 5% are not collected. Compute the amount of cash received from total sales for May.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9976774

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