Solved: Credit sales are collected in the month following the month, Accounting Basics

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Credit sales are collected in the month following the month

Question - Homer Company expects credit sales for January to be $47,000. Cash sales are expected to be $27,000. The company expects credit and cash sales to increase 11% for the month of February. Credit sales are collected in the month following the month in which sales are made. Based on this information the amount of cash collections in February?

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Accounting Basics: Credit sales are collected in the month following the month

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