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A company's past experience indicates that 80% of its credit sales are collected in the month of sale and 16% in the next month. The
A company's past experience indicates that 80% of its credit sales are collected in the month of sale and 16% in the next month. The remainder is never collected. The companys budgeted credit sales totalled:
January | $100800 |
February | 89200 |
March | 110800 |
How much are expected cash receipts for February?
$102912
$85632
$89088
$87488
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