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All sales are on account. Collections are expected as follows: 53% of sales are expected to be collected in the month of the sale, 42%
All sales are on account. Collections are expected as follows: 53% of sales are expected to be collected in the month of the sale, 42% in the month following the sale, and th remainder in the second month following the sale. Prepare a schedule indicating cash collections from sales for January, February, and March
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