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Sales in November were $30,000 and sales in December were $20,000. Ninety percent of the sale is collected in the month of sale and 10% are collected in the subsequent month.

1- Cash collected in December was:

2- Accounts receivable at 12/31 was:

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M946339

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