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Problem 1 Company A is a merchandising firm. Its budgeted sales in dollars) for the next four months follows: March April May June Total Budgeted Sales $50,000 $70,000 $90,000 $60,000 Assume cach month, 40% of Sales are Cash and 60% of Sales are Credit Sales. From experience, the company has learned that Credit Sales are collected according to the following pattern: 70% in the month of sale and 30% in first month following the month of sale. What are the budgeted Cash Collections for June