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Kerrie Publishers Inc. collects 80% of its sales on account in the month of the sale and 20% in the month following the sale. If

Kerrie Publishers Inc. collects 80% of its sales on account in the month of the sale and 20% in the month following the sale.

If sales on account are budgeted to be $588,000 for April and $470,000 for May, what are the budgeted cash receipts from sales on account for May?

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