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Arbor Company has forecast sales to be $ 4 1 3 , 0 0 0 in May, $ 4 8 8 , 0 0 0

Arbor Company has forecast sales to be $413,000 in May, $488,000 in June, $588,000 in July and $713,000 in August. Assume that 40% of sales are made in cash, and the remainder is on credit. Credit sales are collected 60% in the month of sale, and remainder in the following month. What are the budgeted cash receipts for July?

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