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Eastern Corporation collects 45% in the second month following sale, 40% in the month following sale and 15% of a month's sales in the month
Eastern Corporation collects 45% in the second month following sale, 40% in the month following sale and 15% of a month's sales in the month of sale. Budgeted sales for the upcoming fo months are: April budgeted sales $80,000 May budgeted sales $130,000 June budgeted sales $250,000 July budgeted sales $160,000 The amount of cash that will be collected in July is budgeted to be A. $182,500 B. $191,500 C. $158,500 D. $24,000
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