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A company has projected the following sales for February - July of 2014: February $250,000 March $270,000 April $240,000 May $220,000 June $230,000 July $260,000

A company has projected the following sales for February - July of 2014:

February $250,000

March $270,000

April $240,000

May $220,000

June $230,000

July $260,000

25% of all sales are paid for with cash. The remainder is on credit.

The pattern for credit receivables collections are:

Month of Sale 20%

Month After Sale 45%

Second Month After Sale 35%

What are the forecasted cash collections for the month of June?

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