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The Herschel Company makes collections on its sales in the following manner: In the month of sale 3 0 % of sales In the first

The Herschel Company makes collections on its sales in the following manner:
In the month of sale 30% of sales
In the first month following sale 60% of sales
In the second month following sale 7% of sales
For the upcoming year, sales are budgeted to be as follows:
January $150,000
February 170,000
March 200,000

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