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Gammaro Corporation has found that 80% of its sales in any given month are credit sales, while the remainder are cash sales. Of the credit
Gammaro Corporation has found that 80% of its sales in any given month are credit sales, while the remainder are cash sales. Of the credit sales, Gammaro Corporation has experienced the following collection pattern: November sales for last year were $100,000, while December sales were S110,000. Projected sales for the next three months are as follows: Requirement Prepare a cash collections budget for the first quarter, with a column for each month and for the quarter. (Round your answers to the nearest whole dollar.)
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