Sales at sioux are normally collected as 60 in the month of, Ask an Expert

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Sioux Company is estimating the following sales for the first six months of next year:

January....... $250,000
February..... $220,000
March......... $240,000
April........... $300,000
May............ $360,000

Sales at Sioux are normally collected as 60% in the month of sale, 35% in the month following the sale, and the remaining 5% being uncollectible. Based on this information, how much cash should Sioux expect to collect during the month of April?

a) $250,800

b) $264,000

c) $290,700

d) $306,000

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M977988

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