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The Duffy Dog Antique Mall budgeted credit sales in the first quarter of 2021 to be as follows: January $204,800 February 217,600 March 232,000 Credit
The Duffy Dog Antique Mall budgeted credit sales in the first quarter of 2021 to be as follows: January $204,800 February 217,600 March 232,000 Credit sales in December 2020 are expected to be $256,000. The company expects to collect 70 percent of a month's sales in the month of sale and 30 percent in the following month. Estimate cash receipts for each month of the first quarter of 2021.
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