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Harrison Company sells all of its product on account. The company has the following accounts receivable payment experience: Percent paid in the month of the
Harrison Company sells all of its product on account. The company has the following accounts receivable payment experience: Percent paid in the month of the sale = 30% Percent paid in the month after the sale = 60% Percent paid in the second month after the sale = 8% Anticipated sales for the next few months are as follows: April $95,000 May $100,000 June $110,000 What amount of cash is budged to be collected on account in June? $96,200 $100,750 None of these options is correct. $98,850
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