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EF Manufacturing is preparing its budget for next year. All sales are on credit. To encourage customers to pay promptly, the company offers a 2%

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EF Manufacturing is preparing its budget for next year. All sales are on credit. To encourage customers to pay promptly, the company offers a 2% discount for payment within the month of sale. The company estimates that 20% of customers will take advantage of this early settlement discount. The company forecasts that 60% of the remaining credit customers will pay what is owed one month after the credit sales are made, 35% two months after the credit sales are made and 5% three months after the credit sales are made. The sales budget shows forecast sales of 500,000 in July, 450,000 in August, 480,000 in September and 510,000 in October. How much budgeted cash inflow from sales should EF Manufacturing forecast for October? A 570,460 B 572,500 478.400 D 476,360

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