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CTP · Question #778
(Topic 8) Company J is looking to perform an A/R cash analysis based on the following sales information: 60% of sales are collected within two months after sale. After three months, $135,000 of…
The correct answer is B. $45,000. See the full explanation below for the reasoning.
Question
- (Topic 8)
Company J is looking to perform an A/R cash analysis based on the following sales information:
60% of sales are collected within two months after sale. After three months, $135,000 of January's sales were collected. What was the dollar amount of January's sales collected in April?
Options
- A$15,000
- B$45,000
- C$90,000
- D$135,000
How the community answered
(29 responses)- A3% (1)
- B86% (25)
- C7% (2)
- D3% (1)
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