Kam Department Store reported the following information for 2016:

All sales are on credit.
Customer amounts on account are collected 50% in the month of sale and 50% in the following month.
How much cash will Kam receive in November?
A) $580,000
B) $1,300,000
C) $1,200,000
D) $1,160,000
Correct Answer:
Verified
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