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Assume a company is preparing a budget for its first two months of operations. During the first and second months it expects cash sales of
Assume a company is preparing a budget for its first two months of operations. During the first and second months it expects cash sales of $39,000 and $43,000, respectively. It also expects credit sales of $59,000 and $69,000, respectively. The company expects to collect 35% of its credit sales in the month of the sale, 55% in the following month, and 10% is deemed uncollectible. What amount of cash collections would appear in the companys cash budget for the second month
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