ABC company has sales forecasts of the following: January = $40,000; February = $65,000; March = $52,850.
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Question:
ABC company has sales forecasts of the following: January = $40,000; February = $65,000; March = $52,850. All sales are on account and are collected as follows: 20% in the current month, 50% in the month following, 25% in the second month following, and 5% uncollectible. If the total cash receipts for March equal $48,250, what is the sales forecast for January?
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