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East Lansing Mall budgeted credit sales in the first quarter of 2012 to be as follows: January $ 180,000 February 150,000 March 162,000 The budgeted
East Lansing Mall budgeted credit sales in the first quarter of 2012 to be as follows: January $ 180,000 February 150,000 March 162,000 The budgeted beginning cash balance is $28,000 and budgeted monthly cash disbursements are $151,000. Credit sales in December 2011 are expected to be $220,000. The company expects to collect 80 percent of a month's sales in the month of sale and 20 percent in the following month. How much are budgeted cash balance at the end of February?
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