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Cash Budget McMichael Publishers Inc. collects 15% of its sales on account in the month of the sale and 85% in the month following the
Cash Budget
McMichael Publishers Inc. collects 15% of its sales on account in the month of the sale and 85% in the month following the sale.
If sales on account are budgeted to be $335,000 for April and $382,000 for May, what are the budgeted cash receipts from sales on account for May? $
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