Problem \#2 Modern Design provided the following budgeted information for January through March: The company...
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Accounting
Problem \#2 Modern Design provided the following budgeted information for January through March: The company collects 16% of credit sales in the month of sale, 80% in the following month, and 4% are uncollectable. The company also expects to make loan payments of $1,000 per month Required: How much are budgeted cash collections for January, February, and March? Copy and paste the questions below into the answer box and enter your answer. (show your calculation steps!I) Cash collections for January = Cash collections for February = Cash collections for March =
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