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Markham Company has completed its sales budget for the first quarter of 2014. Projected credit...

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Accounting

Markham Company has completed its sales budget for the first quarter of 2014. Projected credit sales for the first four months of the year are shown below: Picture The company's past records show collection of credit sales as follows: 40% in the month of sale and the balance in the following month. The total cash collection from receivables in March is expected to be: $39,600. $45,000. $18,000. $41,400.

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