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Elite Supply Company’s sales, 55% of which are for cash and the other 45% sold on...

Elite Supply Company’s sales, 55% of which are for cash and the other 45% sold on credit, over the past three months were: August September October $ 70,000 $ 180,000 $ 130,000 a. Estimate Elite’s cash receipts in October if the company’s collection period is 30 days. $ b. Estimate Elite’s cash receipts in October if the company’s collection period is 45 days $ c. What would be Elite’s accounts receivable balance at the end of October if the company’s collection period is 30 days? $ d. What would be Elite’s accounts receivable balance at the end of October if the company’s collection period is 45 days?

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ekkarill92 answered 2 years ago
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