Budgeted sales at GLOBAL MANU over the next four months are given below: ...
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Accounting
Budgeted sales at GLOBAL MANU over the next four months are given below:
| September | $140,000 |
| October | $150,000 |
| November | $170,000 |
| December | $130,000 |
The company estimates that 35% of the sales are for cash, and 65% on credit. Collections for sales on account follow a stable pattern as follows: 50% will be collected in the month of the sale, 30% in the month following the sale, 15% in the second month following the sale, and the rest uncollectible. What would be the expected cash receipts for December?
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