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The Guitar Shoppe reports the following budgeted sales: August, $100,000; and September, $200,000. For its total sales, 30% are immediately collected in cash, 55%
The Guitar Shoppe reports the following budgeted sales: August, $100,000; and September, $200,000. For its total sales, 30% are immediately collected in cash, 55% are credit sales and collected in the month following sale, and the remaining 15% are written off as uncollectible. Prepare a schedule of cash receipts from sales for September. THE GUITAR SHOPPE Schedule of Cash Receipts from Sales Sales Cash receipts from: Total cash receipts September $ 200,000
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