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Question: The forecasted sales pertain to Skifurn, Inc.: Collection pattern: 70 percent in month of sale; …
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Show transcribed image text The forecasted sales pertain to Skifurn, Inc.: Collection pattern: 70 percent in month of sale; 30 percent in month following the sale Accounts Receivable (December 31): $140,000 Finished Goods Inventory (December 31): 160,000 The company has a selling price of $10 per unit and expects to maintain ending inventories equal to 20 percent of the next month's sales. Calculate the amount of cash that Skifurn expects to collect in February?

The forecasted sales pertain to Skifurn, Inc.: Collection pattern: 70 percent in month of sale; 30 percent in month following the sale Accounts Receivable (December 31): $140,000 Finished Goods Inventory (December 31): 160,000 The company has a selling price of $10 per unit and expects to maintain ending inventories equal to 20 percent of the next month's sales. Calculate the amount of cash that Skifurn expects to collect in February?

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