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Ryan Co. projects the following monthly revenues for next year:
Ryan’s terms are net 30 days. The company typically receives payment on 80% of sales the month following the sale, and 17% is collected two months after the sale. Approximately 3% of sales are deemed bad debt. What amount represents the expected cash collection in the second calendar quarter of next year? A. $1,450,000 B. $1,234,250 C. $1,393,750 D. $1,325,000 |