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    Estimated cash collections

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    LeMinton expects the following credit sales : January 25K, February 40K, March 30K, April 36K, May 40K. Experience has shown that payment for the credit sales is received as follows: 60% in the month of sale, 25% in the first month after sales, 12% in the second month after sales, and the remainder is collectible. How much cash can LeMin expect to collect in March as a result of credit sales?

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    https://brainmass.com/business/accounting/estimated-cash-collections-261865

    Solution Preview

    LeMinton expects the following credit sales : January 25K, February 40K, March 30K, April 36K, May 40K. Experience has shown that payment for the credit ...

    Solution Summary

    The response provides steps to estimate cash collections.

    $2.19

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