A firm reported actual sales of $65,000 in the month of June and $70,000 in July. The
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A firm reported actual sales of $65,000 in the month of June and $70,000 in July. The sales forecasts indicate that sales are expected to be $85,000, $92,000, and $95,750 for the months of August, September, and October, respectively. Sales are 60% cash and 40% credit, and credit sales are collected evenly over the following 2 months. No other cash receipts were received. What are the firm’s expected cash receipts for the months of August, September, and October?
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Related Book For 
Principles Of Managerial Finance
ISBN: 9781292018201
14th Global Edition
Authors: Lawrence J. Gitman, Chad J. Zutter
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