E8-17 (Algo) Calculating Cash Receipts [LO 8-4) McFarland Company makes 60 percent of its sales...
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E8-17 (Algo) Calculating Cash Receipts [LO 8-4) McFarland Company makes 60 percent of its sales in cash Credit sales are collected as follows: 60 percent in the month of sale and 40 percent in the month following the sale McFarland's budgeted sales for upcoming months follow June July August September $ 24,100 41,890 39,000 37,000 Required: Compute McFarland's expected cash receipts for August Budgeted Cash Receipts
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