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Waterway/Neff, Ltd. personalizes scrapbooks for customers, using their digital photographs. Each scrapbook sells for $40. Waterway/Neff collects cash at the time of sale from 30%
Waterway/Neff, Ltd. personalizes scrapbooks for customers, using their digital photographs. Each scrapbook sells for $40. Waterway/Neff collects cash at the time of sale from 30% of customers. Of the remaining sales, 75% are collected in the month of sale and 25% are collected in the month following the sale. The sales budget for the first six months of the year is as follows: Prepare Waterway/Neff's cash receipts budget for the second quarter. (Enter answers in necessary fields only. Leave other fields blank. Do not enter 0.)
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