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Corliss Corporation sells mail-order laptops. In December 2016, it generated $300,000 of sales revenue; 30% of sales are cash and 70% of sales are on

Corliss Corporation sells mail-order laptops. In December 2016, it generated $300,000 of sales revenue; 30% of sales are cash and 70% of sales are on account. The company expects a 20% increase in sales in January and 10% in February and 10% in March. Corliss Corporation normally collects 80% of accounts receivable in the month of sale and 20% in the next month. Complete the sales budget and cash collections budget below for each of the months in the 1st quarter of 2017. What is the amount of ac

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