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McMichael Publishers Inc. collects 75% of its sales on account in the month of the...

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Accounting

McMichael Publishers Inc. collects 75% of its sales on account in the month of the sale and 25% in the month following the sale. If sales on account are budgeted to be $316,000 for April and $370,000 for May, what are the budgeted cash receipts from sales on account for May

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