The companys past records show collection of credit sales, Ask an Expert

Accounting

Meredith Company has completed its sales budget for the first quarter of 2010. Projected credit sales for the first four months of the year are shown below:

The company's past records show collection of credit sales as follows: 30% in the month of sale and the balance in the following month. The total cash collection from receivables in March is expected to be

A. $38,700

B. $45,000

C. $42,300

D. $31,800

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Accounting Basics, Accounting

Category:- Accounting Basics
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