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The following credit sales are budgeted by Sheridan Company: January $134000 February 240000 March 360000 April 270000 The company's past experience indicates that 70% of
The following credit sales are budgeted by Sheridan Company:
January | $134000 |
February | 240000 |
March | 360000 |
April | 270000 |
The company's 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 April is
| $280200. |
| $263800. |
| $310720. |
| $261000. |
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