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McEwen Company has budgeted the following credit sales during the last four months of the year: September, S 16,000; October, $22,000; November $21,000; December. $24,000. Experience has shown that payment for the credit sales is received as follows: 20% in the month of sale, 55% in the first month after sale, 20% in the second month after sale, and 5% uncollectible. How much cash can McEwen Company expect to collect in November as a result of credit sales?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92751754

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