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Eastern Auto Parts Inc. has 30 percent of its sales paid for in cash and...

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Finance

Eastern Auto Parts Inc. has 30 percent of its sales paid for in cash and 70 percent on credit. All credit accounts are collected in the following month. Assume the following sales:

January $ 80,000
February 70,000
March 115,000
April 60,000

Sales in December of the prior year were $90,000. Prepare a cash receipts schedule for January through April.

cash receipts schedule for January through April.

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