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Budgeting Cash Collections Lowell Consulting, which sells on terms 2/10, ?/30, had credit sales for March and April of $195,000 and $162,500, respectively. Analysis of
Budgeting Cash Collections Lowell Consulting, which sells on terms 2/10, ?/30, had credit sales for March and April of $195,000 and $162,500, respectively. Analysis of Lowell's operations indicates that the pattern of customers' payments on account is as follows (percentages are of total monthly credit sales) Receiving Discount 40% 15% Beyond Discount Period 20% 20% Totals In month of sale In month of following sale Uncollectible accounts, returns, and allowances 60% 35% 5% 100% Determine the estimated cash collected on customers' accounts in April
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