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The following credit sales are budgeted by Sheffield Corp.: January $324400 February 477000 March 667800 April 572400 The companys past experience indicates that 70% of
The following credit sales are budgeted by Sheffield Corp.: January $324400 February 477000 March 667800 April 572400 The companys past experience indicates that 70% of the accounts receivable are collected in the month of sale, 20% in the month following the sale, and 8% in the second month following the sale. The anticipated cash inflow for the month of March is
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