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5. June sales were $27,000, while projected sales for July and August were $51,000 and $69,000, respectively. Sales are 60% cash and 40% credit. All

5. June sales were $27,000, while projected sales for July and August were $51,000 and $69,000, respectively. Sales are 60% cash and 40% credit. All credit sales are collected in the month following the sale. Calculate expected collections for July

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