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Smith has forecast its sales as follows August $180,000 actual September $280,000 actual October. $360,000 November. $400,000 December $450,000 There has been collections of 40%

Smith has forecast its sales as follows August $180,000 actual September $280,000 actual October. $360,000 November. $400,000 December $450,000 There has been collections of 40% during the month of sale, 50% the month after the sale, and 10% the second month after the sale What would a schedule of cash receipts for the three month period October through December look like, and what will the accounts receivable balance be on December 31st

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