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Budgeting Cash Collections Spencer Consulting, which invoices its clients on terms 2 1 0 , n 3 0 , had credit sales for May and

Budgeting Cash Collections
Spencer Consulting, which invoices its clients on terms 210,n30, had credit sales for May
and June of $35,000 and $40,000, respectively. Analysis of Spencer's operations indicates
that the pattern of customers' payments on account is as follows (percentages are of total
monthly credit sales):
Determine the estimated cash collected on customers' accounts in June.
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