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ZAMXVK388 Corporation has the following budgeted sales for the last half of next year: Cash Sales Credit Sales July August.............. September..... October.......... November....... December...... $120,000
ZAMXVK388 Corporation has the following budgeted sales for the last half of next year: Cash Sales Credit Sales July August.............. September..... October.......... November....... December...... $120,000 $372,000 $454,000 $376,000 $212,000 $334,000 $150,000 $170,000 $130,000 $145,000 $200,000 $350,000 . The ZAMXVK388 company is in the process of preparing a cash budget and must determine the expected cash collections by month. To this end, the following information has been assembled: Collections on credit sales: 60% in month of sale 30% in month following sale 10% in second month following sale Q: The total cash receipts during November for ZAMXVK388 would be: A: $
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