A firm's sales for the month total $30,000. If the ratio of cash to credit sales is 2:3, what do cash sales total?
Total sales = $30,000
Ratio of cash and credit sales = 2 : 3
Ratio of cash sales = 2 / 5 (cash sales + credit sales = 2 + 3 = 5)
Therefore cash sales out of total sales = Total sales x (2 / 5)
= 30,000 x (2 / 5)
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