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Big City Toy Company has the following expected sales in dollars from its Sales Budget...

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Question

Accounting

Big City Toy Company has the following expected sales in dollars from its Sales Budget for the year ended December 31, 20X1: Q1 - $106,000 Q2- $118,600 Q3- $61,000 Q4- $301,700 Expected sales are 25% cash, 75% credit. For credit sales, 40% are collected in the quarter of the sale, 55% are collected in the following quarter, and 5% are never collected. The total amount of cash expected to be collected in Q4 is ?

Answer

a. $191,098

b. $121,175

c. $75,425

d. $93,026

Answer & Explanation Solved by verified expert
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