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Ontario Pace Corporation is preparing to set up business on July 1 , 2 0 2 3 and has made the following forecast sales (

Ontario Pace Corporation is preparing to set up business on July 1,2023 and has made the following forecast sales (in units) for the first six months of trading:July -4,200August -4,400September -5,800October -5,900November -6,200December -6,250You can assume that:(i) The expected selling price is $100 per unit.(ii) The cash collection pattern from Account Receivable is expected to be: Cash Customers 45% of sales revenue will be for immediate cash and cash discount of 8% will be allowed. Credit Customers 55% of sales revenue will be from credit customers. These receivables will pay their bills 60% in the month after sale and the remaining 40% in the second month after sale.Bad debts amounted to 4% of credit sales.What is the total cash received (cash sales and credit sales) in the first quarter (i.e. from July to September)?Your answer should be in the following format:Sx,xxx,xxx (rounded up to the nearest whole number)

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