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G.M.Thul is a retailer of assorted baby products. The sales forecast for the coming months is: 40% of sales are cash sales and 60% are
G.M.Thul is a retailer of assorted baby products. The sales forecast for the coming months is: 40% of sales are cash sales and 60% are credit sales. The credit collection pattern is 20% in the month of sale, 70% in the month following the sale, and the remainder in the second month following the sale.
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Prepare a cash receipts schedule for the period June - August (by month).
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