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Kam Department Store Reported the Following Information for 2016 \bullet All Sales Are on Credit

Question 109

Multiple Choice

Kam Department Store reported the following information for 2016:
\bullet  Kam Department Store reported the following information for 2016:  \bullet   All sales are on credit.  \bullet 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
All sales are on credit.
\bullet 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

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