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Chapter 09 Inclass quiz

Chapter 09 Inclass quiz - Budgeted sales(in units for the...

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Acc 200P Name: ________________________ Lab Section #_________________ Chapter 9 Smith Products sells widgets. The price of each widget is $10. ¼ of the sales each month are for cash with the remainder on account. With respect to sales on account , Smith collects 40% in the month of sale and the remaining 60% in the following month.
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Unformatted text preview: Budgeted sales (in units) for the last two months of 2013 are as follows: November ----------------500 units December -----------------900 units How much cash will be collected in the month of December ? Answer: ________________...
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