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Mario's sales for February, March, and April were as follows: $120,000, $140,000 and $160,000. (Mario began his business in February) 70% of sales are collected
Mario's sales for February, March, and April were as follows: $120,000, $140,000 and $160,000. (Mario began his business in February) 70% of sales are collected in the month of sale, with the remaining 30% collected in the following month. Mario's expenses include: Operating expenses and cost of goods sold are paid in the month incurred. Construct a cash budget for Mario and tell me how much cash Mario will have at the end of February, March, and April Will Mario have enough money to cover the $55,000 payoff of his mortgage of in April? You may use this template as a guide
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