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2. Sky Industries has the following sales budget for the 1st 2 months of the year: January February Cash Sales $450,000 $310,000 Sales on

2. Sky Industries has the following sales budget for the 1st 2 months of the year: January February Cash Sales $450,000 $310,000 Sales on account $570,000 $540,000 It is estimated that Sky will collect 30% of its sales on account in the month of sale and the remaining 70% the following month. What is the amount of budgeted cash collections for February?

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