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A Company collects 20% of a months sales in the month of sale, 70% in the month following sale, and 6% in the second month
A Company collects 20% of a months sales in the month of sale, 70% in the month following sale, and 6% in the second month following sale. The remainder is uncollectible. Budgeted sales for the next four months are: Cash collections in April are budgeted to be:
A) $313,000
B) $292,000
C) $321,000
D) $320,000
Budgeted sales January $200,000 February $300,000 March $350,000 April $250,000Step by Step Solution
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