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All of Porter Corporation's sales are on account. Fifty-five percent of the credit sales are collected in the month of sale, 30% in the month
All of Porter Corporation's sales are on account. Fifty-five percent of the credit sales are collected in the month of sale, 30% in the month following sale, and 10% in the second month following sale. The remainder are uncollectible. The following are budgeted sales data for the company: January $458,000 February $702,000 March $638,000 April $718,000 Total sales Cash receipts in April are expected to be: O $394,900 $586,300 $656,500 O $261,600
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