Frankie 's Chocolate Co reports the following information from its sales budget Expected Sales July $ 97,000 August 117,000 September 127,000 Cash sales are normally 30 of total sales and all credit sales are expected to be collected in the month following the date of sale The total amount of cash ...

In July you will collect 30 of Julys sales003 x 97000 29 ...

Frankie's Chocolate Co. reports the following information from its sales budget: Expected Sales: July $ 97,000 August

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Frankie's Chocolate Co. reports the following information from its sales budget:

Expected Sales:	July	$ 97,000
	August	117,000
	September	127,000

Cash sales are normally 30% of total sales and all credit sales are expected to be collected in the month following the date of sale. The total amount of cash expected to be received from customers in September is:

a) $113,000.

b) $82,400.

c) $105,000.

d) $195,400.

$e)22,600.

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Accounting Tools for Business Decision Making

ISBN: 978-1118128169

5th edition

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso

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Posted Date: Jun 03, 2022 03:43 AM

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Frankie's Chocolate Co. reports the following information from its sales budget: Expected Sales: July $ 97,000 August

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