Dove Corporation began its operations on September 1 of the current year. Budgeted sales for...
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Dove Corporation began its operations on September 1 of the current year. Budgeted sales for the first three months of business are $250,000, $320,000, and $410,000, respectively, for September, October, and November. The company expects to sell 25% of its merchandise for cash. Of sales on account, 70% are expected to be collected in the month of the sale, 30% in the month following the sale. The cash collections in November are: A. $317,750 B. $389,750 C. $490,000 D. $410,000
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