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Riverside Corporation collects 55% of a month's sales in the month of sale, 40% in the month following sal and 5% in the second month
Riverside Corporation collects 55% of a month's sales in the month of sale, 40% in the month following sal and 5% in the second month following sale. Budgeted sales for the upcoming four months are: April budgeted sales May budgeted sales June budgeted sales July budgeted sales $80,000 $190,000 $230,000 $170,000 The amount of cash that will be collected in July is budgeted to be A. $101,500 B. $195,000 OC. $93,500 OD. $205,000
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