Cradle Company had sales of $60,000 in December 2010. Sales for the first three months of 2011 are January $40,000 February 50,000 March 65,000 In the past, Cradle has found that 25% of the sales revenue is collected in the month of the sale and 75% is collected in the following month. If this pattern continues, what will be the amount of Cradle Company's cash receipts in February?

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Cash Receipts on February 25 o... View the full answer