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Bright Minds Toy Company prepared the following sales budget for the second quarter. Projected sales for each of the first three months of operations are
Bright Minds Toy Company prepared the following sales budget for the second quarter. Projected sales for each of the first three months of operations are as follows:
Sales Budget April May June
Cash sales
Sales on account
Bright Minds expects to collect of the sales on account in the month of sale, in the month following the sale, and the remainder in the second month following the sale.
What is the amount of budgeted cash collections for June?
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