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San Francisco Company expects August sales to be $32,000. Approximately 40% of sales are cash sales. Collections are 50% in the month of sale, 40%
San Francisco Company expects August sales to be $32,000. Approximately 40% of sales are cash sales. Collections are 50% in the month of sale, 40% in the month following the sale, and 5% two months following the sale. The remaining 5% is expected to be uncollectible. ________ is the expected cash collection in August from August sales.
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