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Sheridan Company has the following budgeted sales: July $230000, August $400000, and September $280000. 40% of the sales are for cash and 60% are on

Sheridan Company has the following budgeted sales: July $230000, August $400000, and September $280000. 40% of the sales are for cash and 60% are on account. For the credit sales, 50% are collected in the month of sale, and 50% the following month. The total expected cash receipts for September are

$280000.

$352000.

$358000.

$316000.

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