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A firm has projected sales of $ 1 2 0 , 0 0 0 for January, $ 1 1 8 , 0 0 0 for

A firm has projected sales of $120,000 for January, $118,000 for February, and $146,000 for March. The firm collects 55% in the month of sale, 43% in the month after sale, and 2% two months after sale. The accounts receivable balance at the end of the previous quarter was $27,000, of which $22,000 was uncollected December sales. What is the amount of the January collections?
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