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Firms total expected cash receipts

Problem:

A firm has actual sales in November of $1,000 and projected sales in December and January of $3,000 and $4,000, respectively. The firm makes 10% of its sales for cash, collects 40% of its sales one month following the sale, and collects the balance two months following the sale. The firm's total expected cash receipts in January?

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Accounting Basics: Firms total expected cash receipts

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