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The following information is from White Mountain Furniture Showroom's financial records. Collections from customers are normally 70 percent in the month of sale, 19 percent
The following information is from White Mountain Furniture Showroom's financial records. Collections from customers are normally 70 percent in the month of sale, 19 percent in the month following the sale, and 9 percent in the second month following the sale. The balance is expected to be uncollectible. Sales for November are forecasted at $69,000. Required: Prepare the schedule for expected cash collections during November
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