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Happy Company has budgeted sales for the next six months as follows: June July August September October November Budgeted Sales in Units 6,200 units ?????
Happy Company has budgeted sales for the next six months as follows: June July August September October November Budgeted Sales in Units 6,200 units ????? units 8,300 units 2,900 units 5,600 units 9,500 units Happy Company's product sells for $50 per unit. 20% of the company's sales are cash sales and 80% are sales made on account. The sales on account are collected in the pattern 22% in the month of sale, 37% in the month following sale, 18% is collected in the second month following sale, and 23% is collected in the third month following the month of sale. Happy Company reported a budgeted accounts receivable balance of $258,432 at September 30. Calculate the total expected cash collections for the month of October
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