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    Credit Sales Collections

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    Dixon company expects 650,000 of credit sales in march and $800,000 of credit sales in April. Dixon historically collects 70% of its credit sales in the month of sales and 30% in the following month. How much does Dixon expect to collect in April? Show calculations.

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    Solution Preview

    The April collection will be 70% of April sales (since 70% of the sales ...

    Solution Summary

    The solution explains how to calculate the cash receipts from credit sales.