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Campbell Corporation's sales are 40% cash and 60% credit. The Cambell Corporation's collection history indicates that credit sales are collected as follows: Month of sale

Campbell Corporation's sales are 40% cash and 60% credit. The Cambell Corporation's collection history indicates that credit sales are collected as follows:

Month of sale

20%

Month after sale

50%

Two months after sale

25%

Uncollectible

5%

Required: Prepare a cash collections budget for each month in the quarter (January, February, and March) and for the quarter in total.

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