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Suppose a firm expects to sell $100 of goods in January; $200 of goods in February and $300 of goods in March. The firm expects
Suppose a firm expects to sell $100 of goods in January; $200 of goods in February and $300 of goods in March. The firm expects 50% of the sales to be cash sales. Of the non-cash sales, 60% is credit sales typically paid off in the month of the sale; 30% is credit sales paid off the following month; and 10% are pre-payments made in the prior month. What are the budgeted cash receipts from customers in February
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