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KnHE ProblemI Marlee Company's sales are all on credit. Sixty percent of the credit sales are collected in the month of sale, 20% in the
KnHE ProblemI Marlee Company's sales are all on credit. Sixty percent of the credit sales are collected in the month of sale, 20% in the month following sale, and 15% in the second month following sale The remainder are uncollectible. Customers paying in the month of sale receive a 2% discount The following are budgeted sales data: JauaryFebruarny $60,000 $70,000 March $50,000 Total sales Prepare a schedule for budgeted cash receipts in March
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