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Markham Company has completed its sales budget for the first quarter of Year 2. Projected credit sales for the first four months of the year

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Markham Company has completed its sales budget for the first quarter of Year 2. Projected credit sales for the first four months of the year are shown below: The company's past records show collection of credit sales as follows: 31% in the month of sale and the balance in the following month. The total cash collection from receivables in March is expected to be: Multiple Choice $46,000. $39,790 $32,860 $43,210

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