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Gallonte Inc. began operations in April of this year. It makes all sales on account, subject to the following collection pattern: 20% are collected in
Gallonte Inc. began operations in April of this year. It makes all sales on account, subject to the following collection pattern: 20% are collected in the month of sale; 70% are collected in the first month after sale; and 10% are collected in the second month after sale. If sales for April, May, and June were $80,000, $190,000, and $180,000, respectively, what were the firm's budgeted collections for the quarter? Multiple Choice 0 $251,000. 0 $287,000. 0 None of the answers is correct. 0 $270,000. $287.000. 0 $387,000
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