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CTP · Question #792
CTP Question #792: Real Exam Question with Answer & Explanation
The correct answer is B. 30%. See the full explanation below for the reasoning.
Question
- (Topic 8) A company plans to perform an A/R cash analysis based on the following sales information: 60% of sales are collected within two months after the sale. After three months, $135,000 of January's sales has been collected. What was the percentage of January's sales collected in April?
Options
- A10%
- B30%
- C60%
- D90%
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