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McEwen Company has budgeted the following credit sales during the last 4 months of the year: September, $14,000; October, $15,000; November $18,000; December, $33,000. Experience
McEwen Company has budgeted the following credit sales during the last 4 months of the year: September, $14,000; October, $15,000; November $18,000; December, $33,000. Experience has shown that payment for the credit sales is received as follows: 40% in the month of sale, 40% in the first month after sale, 10% in the second month after sale, and 10% uncollectible. How much cash can McEwen Company expect to collect in November as a result of credit sales?
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