E8-17(Algo) Calculating Cash Receipts [LO 8-4] McFarland Company makes 70 percent of its...

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Accounting

E8-17(Algo) Calculating Cash Receipts [LO 8-4]
McFarland Company makes 70 percent of its sales in cash. Credit sales are collected as follows: 70 percent in the month of sale an 30 percent in the month following the sale.
McFarland's budgeted sales for upcoming months follow:
\table[[June,$23,900
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