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McFarland Company makes 65 percent of its sales in cash. Credit sales are collected as...

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Accounting

McFarland Company makes 65 percent of its sales in cash. Credit sales are collected as follows: 65 percent in the month of sale and 35 percent in the month following the sale. McFarlands budgeted sales for upcoming months follow:

June $ 24,400
July 44,000
August 42,000
September 40,000

Required: Compute McFarlands expected cash receipts for August.

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