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Sioux Corporation Is Estimating the Following Sales for the First

Question 161

Multiple Choice

Sioux Corporation is estimating the following sales for the first four months of next year: Sioux Corporation is estimating the following sales for the first four months of next year: Sales are normally collected 60% in the month of sale, 35% in the month following the sale, and the remaining 5% being uncollectible. Based on this information, how much cash should Sioux expect to collect during the month of April? A) $286,500 B) $320,000 C) $192,000 D) $94,500 Sales are normally collected 60% in the month of sale, 35% in the month following the sale, and the remaining 5% being uncollectible. Based on this information, how much cash should Sioux expect to collect during the month of April?


A) $286,500
B) $320,000
C) $192,000
D) $94,500

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