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Dove Corporation began its operations on September 1st of the current year. Budgeted sales on account for the first three months of business are
Dove Corporation began its operations on September 1st of the current year. Budgeted sales on account for the first three months of business are $250,000, $320,000, and $410,000, respectively, for September, October, and November. Of sales on account, 70% are expected to be collected in the month of the sale, 30% in the month following the sale. The cash collections budgeted for October are: A. $320,000 B. $224,000 C. $299,000 D. $96,000
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