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All sales at Alaska Company are on credit. The company is preparing a cash budget for November. The following information on accounts recelvable collections is
All sales at Alaska Company are on credit. The company is preparing a cash budget for November. The following information on
accounts recelvable collections is avallable from customer payment history:
Percent of current month's sales collected this month
Percent of prior month's sales collected this month
Percent of sales two months prior to current month collected this month
Percent of sales three months prior to current month collected this month
The remaining percent is not collected and is written off as bad debts. Sales to date are as follows:
Required:
What are the estimated cash receipts from accounts receivable collections in November?
Answer is complete but not entirely correct.
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