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21-11 Cash Budget McMichael Publishers Inc. collects 85% of its sales on account in the month of the sale and 15% in the month following

21-11

Cash Budget

McMichael Publishers Inc. collects 85% of its sales on account in the month of the sale and 15% in the month following the sale.

If sales on account are budgeted to be $50,000 for April and $44,000 for May, what are the budgeted cash receipts from sales on account for May?

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