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Posted: June 15th, 2022
Fredder Company usually sells about 20% of its merchandise during
Fredder Company usually sells about 20% of its merchandise during a month for money with the remaining gross sales on account. The corporate’s accounts receivable cost historical past is as follows: 30% within the month of sale, 50% within the month following, and 15% within the second month following sale. Complete budgeted gross sales for the second quarter are as follows:April$100,000Might120,000June80,000Assume all questions relate to the month of June.What are the anticipated money gross sales?80,000*20%=$16,000What are the anticipated receipts from accounts receivable for gross sales made in April
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