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Cash Budget Wallace Publishers Inc. collects 20% of its sales on account in the month of the sale and 80% in the month following the

Cash Budget Wallace Publishers Inc. collects 20% of its sales on account in the month of the sale and 80% in the month following the sale.

If sales on account are budgeted to be $348,000 for April and $303,000 for May, what are the budgeted cash receipts from sales on account for May?

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