FRANCORP is preparing budgets for the quarter ending March 31. Budgeted sales for the next...
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Accounting
FRANCORP is preparing budgets for the quarter ending March 31. Budgeted sales for the next 5 months are as follows: The selling price per unit is \$15. Assume all sales are on account. This means that all sales ARE NOT CASH SALES. They are waiting for their customers to pay. FRANCORP'S collection pattern is: - 40% in the month of sale - 50% in the month following sale - 10% in the second month following sale Determine the total cash collection for the month of January. $195,250 $200,500 $117,000 $250,100
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