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15. Parker Company's sales are 50% in cash and 50% on credit. Seventy percent of the credit sales are collected in the month of sale,
15. Parker Company's sales are 50% in cash and 50% on credit. Seventy percent of the credit sales are collected in the month of sale, 20% in the month following sale, and 5% in the second month following sale. The remainder is uncollectible. The following are budgeted sales data: September October November December Total sales $50,000 $70,000 $60,000 $80,000 Total cash receipts in December would be budgeted to be: A) $28,000. B) $68,000 C) $75,750. D) $83,500
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