The Ballentine Company expects sales for June, July, and August of $48,000, $54,000, and $44,000, respectively. Experience suggests that 40% of sales are for cash and 60% are on credit.
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Skysong Industries collected $104,000 from customers in 2020. Of the amount collected, $25,500 was for services performed in 2019. In addition, Skysong performed services worth $38,600 in 2020, which will not be collected until 2021.
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