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Assume a company is preparing a budget for its first two months of operations. During...

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Accounting

Assume a company is preparing a budget for its first two months of operations. During the first and second months it expects credit sales of $45,000 and $65,000, respectively. The company expects to collect 30% of its credit sales in the month of the sale and the remaining 70% in the following month. What is the expected cash collections from credit sales during the first month?
Multiple Choice
$25,500
$13,500
$31,500
$49,000
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