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QUESTION 4: The following details have been extracted from the receivables collection records of C Co. Invoices paid in
Posted: Thu May 26, 2022 8:31 am
by answerhappygod
- Question 4 The Following Details Have Been Extracted From The Receivables Collection Records Of C Co Invoices Paid In 1 (31.98 KiB) Viewed 19 times
QUESTION 4: The following details have been extracted from the receivables collection records of C Co. Invoices paid in the month after sale 60% Invoices paid in the second month after sale 25% Invoices paid in the third month after sale 12% Bad debts 3% Invoices are issued on the last day of each month. Customers paying in the month after sale are entitled to deduct a 2% settlement discount. Credit sales values for June to September are budgeted as follows. June July August September $35,000 $40,000 $60,000 $45,000 What is the amount budgeted to be received from credit sales in September? (show your working)