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Southeast Holdings, Inc. is a wholesale distributor of machine parts. The company has established the following sales budget for its second quarter of 2023 : Budgeted Sales (All On Account) The company's collection history shows that 30% of its sales are collected in the month of sale, another 60% are collected in the following month of sale, and 8% are collected in the second month following the month of sale. Bad debts are immaterial and can be ignored. February Sales totaled 550,000, and March Sales totaled $625,000