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Iris Industries has the following sales budget for the 1* 2 months of the year: Cash Sales Sales on account January $360,000 $550,000 February $280,000

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Iris Industries has the following sales budget for the 1* 2 months of the year: Cash Sales Sales on account January $360,000 $550,000 February $280,000 $640,000 It is estimated that Iris will collect 70% of its sales on account in the month of sale and the remaining 30% the following month. What is the amount of budgeted cash collections for February

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