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XYZs sales are all credit sales. The following information is available with respect to sales on account: 20% of credit sales are collected in the
XYZs sales are all credit sales. The following information is available with respect to sales on account:
20% of credit sales are collected in the month of sales
50% of credit sales are collected in the month following the month of sales
30% of credit sales are collected in the second month following the month of sales
Budgeted Sales are as follows:
January $80,000
February $100,000
March $150,000
Cash collections in March are budgeted to be:
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