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DEF Company makes all of its sales on credit and has the following accounts receivable collection pattern: Cash collected in the month of sale: 25%
DEF Company makes all of its sales on credit and has the following accounts receivable collection pattern: Cash collected in the month of sale: 25% Cash collected in the month following sale: 65% Cash collected two months following the sale: 10% If credit sales for January, February, and March are $100,000, $200,000, and $300,000 respectively, what is the expected cash collection for March?
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