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A company's history indicates that 30% of its sales are for cash and the rest are on credit. Collections on credit sales are 30% in
A company's history indicates that 30% of its sales are for cash and the rest are on credit. Collections on credit sales are 30% in the month of the sale, 40% in the month following the sale, and 25% in the second month following the sale. Projected sales for January, February, and March are $71,000, $96,000 and $106,000, respectively. The March expected cash receipts from current and prior credit sales is: \begin{tabular}{|} $56,265 \\ \hline$66,865 \\ $61,565 \\ $87,950 \\ \hline$80,800 \end{tabular}
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