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Grover Company has forecast sales to be $130,000 in February, $138,000 in March, $159,000 in...

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Accounting

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Grover Company has forecast sales to be $130,000 in February, $138,000 in March, $159,000 in April, and $143,000 in May. The average cost of goods sold is 70% of sales. All sales are on made on credit and sales are collected 60% in the month of sale, and 40% the month following. What are budgeted cash receipts in March? Multiple Choice $98,300 $95,500 $134,800 $138,800

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