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MGM Corporation is looking to build a cash forecast based on its monthly sales using the following information: 25% of customers pay at the time
MGM Corporation is looking to build a cash forecast based on its monthly sales using the following information: 25% of customers pay at the time of sale. Credit sales: 50% of each month's sales are collected 30 days after the sale, and 20% are collected 60 days months after the sale. Those credit sales not collected after 60 days are written off. What would be the cash on hand at the end of August 2015
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