Johnson Equipment expects the following sales in January,February,and March:
The controller has determined that the company collects credit sales as follows: 60% in the month of sale,35% in the first month after sale,and 5% in the second month after sale.How much cash will be collected from customers in March?
A) $291,500
B) $376,500
C) $410,000
D) None of these answer choices are correct.
Correct Answer:
Verified
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