Thirty percent of sharp companys sales are for cash and 70, Ask an Expert

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Thirty percent of Sharp Company's sales are for cash and 70% are on account. Sixty percent of the account sales are collected in the month of sale, 25% in the month following sale, and 12% in the second month following sale. The remainder is uncollectible. The following are budgeted sales data for the company:

January February March April

Total sales $50,000 $60,000 $40,000 $30,000

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M966088

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