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Memphis Company anticipates total sales for April, May, and June of $890,000, $990,000, and $1,040,000...

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Accounting

Memphis Company anticipates total sales for April, May, and June of $890,000, $990,000, and $1,040,000 respectively. Cash sales are normally 30% of total sales. Of the credit sales, 30% are collected in the same month as the sale, 60% are collected during the first month after the sale, and the remaining 10% are not collected. Compute the amount of cash received from total sales during the month of May.

a. $519,400

b. $634,200

c. $878,700

d. $581,700

e. $946,200

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