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    Important information about Cash Collections in April

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    Question 1:

    Sioux Company is estimating the following sales for the first six months of next year:

    January $248,000
    February $213,000
    March $232,000
    April $297,000
    May $355,000

    Sales at Sioux are normally collected as 55% in the month of sale, 41% in the month following the sale, and the remaining 4% being uncollectible. Based on this information, how much cash should Sioux expect to collect during the month of April?


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    Solution Summary

    The solution explains how to calculate the cash collections in April