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Problem 1 ( 5 polnts) From past experience, the company has leamed that 20% of a month's sales are collected in the month of sale,

Problem 1 ( 5 polnts) From past experience, the company has leamed that 20% of a month's sales are collected in the month of sale, that another 70% is collected in the month following the sale, and that the remaining 10% is collected in the second month following sale. Bad debts are negligible and can be ignored. How much is the total expected cash collections from sales for the third quarter

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