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Home Corporation will open a new store on January 1. Based on experience from its other retail outlets. Home Corporation is making the following sales
Home Corporation will open a new store on January 1. Based on experience from its other retail outlets. Home Corporation is making the following sales projections: Home Corporation estimates that 70% of the credit sales will be collected in the month following the month of sale, with the balance collected in the second month following the month of sale. In a cash budget for April, the total cash receipts will be: $114,000 $57,000 $97,000 $74,000
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