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A company's past experience indicates that 60% of its credit sales are collected in the month of sale, 30% in the next month, and 4%

A company's past experience indicates that 60% of its credit sales are collected in the month of sale, 30% in the next month, and 4% in the second month after the sale; the remainder is never collected. Budgeted credit sales were:

January $360,000

February 216,000

March 540,000

The cash inflow in the month of March is expected to be: (Answer: $403,200)

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