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Arbor Co. has forecast sales to be $417,000 in May, $492,000 in June, $592,000 in...

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Accounting

Arbor Co. has forecast sales to be $417,000 in May, $492,000 in June, $592,000 in July and $717,000 in August. Forty percent of sales are made in cash, the remainder is on credit. Credit sales are collected 60% in the month of sale, the remaining the following month. What are budgeted cash collections for July?

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