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Western Company expects the following credit sales for the first five months of the year: January, $38,000; February. $53,000; March, $43,000; April, $49,000, May $53,000.
Western Company expects the following credit sales for the first five months of the year: January, $38,000; February. $53,000; March, $43,000; April, $49,000, May $53,000. Experience has shown that payment for the credit sales is received as follows: 60% in the month of sale, 25% in the first month after sale, 12% in the second month after sale, and the remainder is uncollectible. How much cash can Western Company expect to collect in March as a result of credit sales (current and past)
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