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Required information [The following information applies to the questions displayed below.] On October 1 of the current year, Malone Corporation prepared a cash budget for
Required information [The following information applies to the questions displayed below.] On October 1 of the current year, Malone Corporation prepared a cash budget for October, November, and December. All of Malone's sales are made on account. The following information was used in preparing estimated cash collections: August sales (actual) September sales (actual) October sales (estimated) November sales (estimated) December sales (estimated) $ 49,000 $ 59,000 $ 29,000 $ 79,000 $ 69,000 Approximately 60% of all sales are collected in the month of the sale, 30% is collected in the following month, and 10% is collected in the month thereafter. Budgeted collections from customers in October total: Multiple Choice O $137,000. O $51,600 O $35,100 O $40,000
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