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Center Company makes collections on sales according to the following schedule: 30% in the month of sale; 60% in the month following sale; 8% in
Center Company makes collections on sales according to the following schedule: 30% in the month of sale; 60% in the month following sale; 8% in the second month following the sale. The following sales are expected: January $100,000; February $120,000; and March $160,000. Cash collections in March are budgeted to be? (Round to the nearest $1.00)
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