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1. Franklin Corporation has the following sales budgets for the fourth quarter. Cash sales Credit sales October $580,400 $232,900 November 624,800 344,000 December 806,900 398,700

1. Franklin Corporation has the following sales budgets for the fourth quarter.

Cash sales

Credit sales

October

$580,400

$232,900

November

624,800

344,000

December

806,900

398,700

The accounting manager has analyzed cash collections and determined that credit sales are collected 70% in the month of sale, 20% in the month following the sale, and 10% uncollectible. How much cash will Franklin collect in November?

A) $912,180

B) $865,600

C) $693,600

D) $787,830

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