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Frans Fries has budgeted sales for May, June and July at $500,000, $680,000 and $720,000, respectively. Sales are 80% cash and 20% on account. Assume
Frans Fries has budgeted sales for May, June and July at $500,000, $680,000 and $720,000, respectively. Sales are 80% cash and 20% on account. Assume sales on account are collected in the month following the sale. Compute cash receipts for June and July. Show your work
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