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Oak Furniture provided the following information relevant to its sales for December 2009 and the first quarter of 2010:

Based on the company's collection history, 2% of credit sales are uncollectible, 40% are collected in month of sale and the remainder
Collected in the following month Cash collections in January from December 2009 credit sales would be: A) $42,000. B) $40,600 C) $36,000D)$34,800

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91792894

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