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The sales budget for your company in the coming year is based on a quarterly growth rate of 2 0 percent with the first -
The sales budget for your company in the coming year is based on a quarterly growth rate of percent with the firstquarter sales projection at $ million. In addition to this basic trend, the seasonal adjustments for the four quarters are $$ and $ million, respectively. Generally, percent of the sales can be collected within the quarter and percent in the following quarter; the rest of the sales are bad debt. The bad debts are written off in the second quarter after the sales are made. The beginning accounts receivable balance is $ million. Assuming all sales are on credit, compute the cash collections from sales for each quarter.
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