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Test Company projected the following sales for the first six months of the year. Of the total sales, 10% are cash sales, and the remaining
Test Company projected the following sales for the first six months of the year. Of the total sales, 10% are cash sales, and the remaining sales are on credit. Credit sales are collected: 40% in the month of sale, 50% in the first month following the sale, 5% in the second month following the sale, and the remaining credit sales are uncollectible. Determine total cash collections for March
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