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1. Sales were $4,500 in June 2016; $4,750 in July 2016; and $5,000 in August 2016. If cash sales are 50% of current-month sales, 30%

1. Sales were $4,500 in June 2016; $4,750 in July 2016; and $5,000 in August 2016. If cash sales are 50% of current-month sales, 30% of lagged one-month sales, and 20% of lagged two-month sales, what were cash sales in August 2016?

A. $5,000

B. $4,825

C. $4,750

D. $4,625

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