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[ The following information applies to the questions displayed below. ] On October 1 of the current year, Molloy Corporation prepared a cash budget for

[The following information applies to the questions displayed below.]

On October 1 of the current year, Molloy Corporation prepared a cash budget for October, November, and December. All of Molloy's sales are made on account. The following information was used in preparing estimated cash collections:

August sales (actual) $ 31,000
September sales (actual) $ 41,000
October sales (estimated) $ 28,000
November sales (estimated) $ 61,000
December sales (estimated) $ 51,000

Approximately 65% of all sales are collected in the month of the sale, 20% is collected in the following month, and 15% is collected in the month thereafter.

Budgeted collections from customers in October total

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