A merchandising company's sales budget indicates the following sales: January: $30,000; February: $20,000; March: $15,000....
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Accounting
A merchandising company's sales budget indicates the following sales: January: $30,000; February: $20,000; March: $15,000. The company expects 80% of the sales to be on account. Credit sales are collected 30% in the month of the sale and 70% in the month following the sale. The total cash receipts collected during March will be $ .
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