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Gem Service anticipates the following sales revenue over a five-month period: The company's sales are 40 % cash and 60 % credit. Its collection history
Gem Service anticipates the following sales revenue over a five-month period: The company's sales are 40 % cash and 60 % credit. Its collection history indicates that credit sales are collected as follows:
How much cash will be collected in January? In February? In March? For the quarter in total? Complete the cash budget to determine how much cash will be collected in January, February, March and for the quarter in total.
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