Pardee Company makes 30% of its sales for cash and 70% on account. 60% of the account sales are collected in the month of sale, 25% in the month following sale, and 12% in the second month following sale. The remainder is uncollectible. The following information has been gathered for the current year:

Month total sales

1=$60,000

2=$70,000

3=$50,000

4=$30,000

Total cash receipts in Month 3 will be?

Answer rating: 100% (QA)

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