The POQ Company makes collections on credit sales according to the following ...
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The POQ Company makes collections on credit sales according to the following schedule:
25% in moth of sale
70% in month following sale
4% in second month following sale
1% uncollectible
The following sales have been budgeted:
Month
|
Sales
|
April
|
£100,000
|
May
|
£120,000
|
June
|
£110,000
|
Cash collections in June would be:
0%
0%
100%
0%
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