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Power Ridge Corporation has forecast credit sales for the fourth quarter of the year as follows: Experience has shown 20 percent of sales are collected
Power Ridge Corporation has forecast credit sales for the fourth quarter of the year as follows: Experience has shown 20 percent of sales are collected in the month of sale, 70 percent are collected in the following month, and 10 percent are never collected. Prepare a cash receipts schedule for Power Ridge Corporation covering the fourth quarter (October through December)
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