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AP-11A LO Buildup Sports Inc. is a retailer of shoes and sports gear. The following...

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AP-11A LO Buildup Sports Inc. is a retailer of shoes and sports gear. The following is Buildup Sports' sales forecast by quarter for the upcoming year. Buildup Sports Inc. Forecasted Sales For the Year Ended December 31, 2020 Q1 Q2 Q3 04 Period End Sales $107,000 $289,000 $361,000 $236,000 $993,000 In addition, sales in Q3 and Q4 of 2019 totaled $128,000 and $209,000, respectively. According to the company's sales records, 63% of sales are made in cash and the remaining 37% are made on account (i.e. credit sales). Assume the following historical trends were noted by management regarding credit sales: 47% of credit customers pay during the quarter in which the sale took place 28% of credit customers pay in the quarter immediately following the quarter of sale 20% of credit customers pay in the second quarter following the quarter of sale The remaining 5% of credit sales are uncollectible 167

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