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2. Prepare a cash collections budget for 2018. 40% of each quarter's sales are for cash, and the other 60% are on account (credit). 80%
2.
Prepare
a
cash
collections
budget
for
2018.
40%
of
each
quarter's
sales
are
for
cash,
and
the
other
60%
are
on
account
(credit).
80%
of
the
payments
for
credit
sales
(48%
of
total
sales)
are
received
in
the
quarter
of
sale.
The
remaining
20%
of
credit
sales
payments
(12%
of
total
sales)
are
received
during
the
quarter
following
sale.
Uncollected
credit
sales
from
Quarter
4
of
2017
(accounts
receivable)
total
$166,000.
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