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All of Q Corporation's sales are on account. Sixty percent of the credit sales are collected in the month of sale, 30% in the month
All of Q Corporation's sales are on account. Sixty percent of the credit sales are collected in the month of sale, 30% in the month following the sale. The remainder are deemed uncollectible. The follow are budgets sales for Porter: January February March April Total Sales $400,000 $600,000 $500,000 $700,000 Cash receipts in April are expected to be: $150,000 $420,000 $700,000 $570,000
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