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Spicer & Co has budgeted its credit sales as follows: June $ 6 0 0 , 0 0 0 July $ 6 0 0 ,

Spicer & Co has budgeted its credit sales as follows:
June $ 600,000
July $ 600,000
August $ 800,000
September $ 1,200,000
October $ 1,400,000
November $ 1,600,000
Collections of credit sales are normally as follows:
Collected within 30 days of the end of the month of sale: 50%
Collected in 30-60 days: 30%
Collected in 60-90 days: 15%
Uncollectible: 5%
The cash balance on 1st October is expected to be $200,000.
Cash payments are expected to total $800,000 each month for July to November.
The cash balance at the end of October is expected to be __________.

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