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The firm makes 20 percent of sales for cash and collects

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A firm has projected sales in May, June, and July of $100, $200, and $300, respectively. The firm makes 20 percent of sales for cash and collects the balance one month following the sale. The firm's total cash receipts in July

a. are $200.
b. are $220.
c. are $180.
d. cannot be determined with the information

Reference no: EM13568822

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