SugarlandCompanysellsasingleproductandanticipatesopeninganewfacilityinCharlotteonMay1ofthecurrentyear.Expectedsalesduringthefirst3monthsofactivityareasfollows:May,$60,000;June,$80,000;andJuly,$85,000. Thirty percent of all sales are for cash; the remaining 70% are on account. Credit sales have the following collection pattern: Collected in the month of sale 60% Collected in the month following sale 35 Uncollectible
SugarlandCompanysellsasingleproductandanticipatesopeninganewfacilityinCharlotteonMay1ofthecurrentyear.Expectedsales
duringthefirst3monthsofactivityareasfollows:May,$60,000;June,$80,000;andJuly,$85,000.
Thirty percent of all sales are for cash; the remaining 70% are on account. Credit sales have the following collection pattern:
| Collected in the month of sale | 60% |
| Collected in the month following sale | 35 |
| Uncollectible |
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