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Memphis Company anticipates total sales for April, May, and June of $960,000,$1,060,000, and $1,110,000 respectively. Cash sales are normally 20% of total sales. Of the
Memphis Company anticipates total sales for April, May, and June of $960,000,$1,060,000, and $1,110,000 respectively. Cash sales are normally 20% of total sales. Of the credit sales, 35% are collected in the same month as the sale, 60% are collected during the first month after the sale, and the remaining 5% are not collected. Compute the amount of cash received from total sales during the month of June. $719,200. $819,600. $969,600. $757,600. $1,041,600
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