Assume a company is preparing a budget for its first two months of operations. During...
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Accounting
Assume a company is preparing a budget for its first two months of operations. During the first and second months it expects credit sales of $50,000 and $60,000, respectively. The company expects to collect 40% of its credit sales in the month of the sale and the remaining 60% in the following month. What amount of cash collections from credit sales would the company include in its cash budget for the second month?
Multiple Choice
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$54,000
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$24,000
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$44,000
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$36,000
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