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The XRS Corporation makes collections on sales according to the following schedule: 50% in the month of sale 47% in the month following sale 3%
The XRS Corporation makes collections on sales according to the following schedule: 50% in the month of sale 47% in the month following sale 3% in the second month following sale The following sales have been budgeted: April May June Sales $170,000 $190,000 $180,000 Budgeted cash collections in June would be: $179,300 $180,000 $184,400 $180,510
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