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Ratchet Manufacturing anticipates total sales for August, September, and October of $260,000, $240,000,...

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Accounting

Ratchet Manufacturing anticipates total sales for August,
September, and October of $260,000, $240,000, and $250,500
respectively. Cash sales are normally 30% of total sales and the
remaining sales are on credit. All credit sales are collected in
the first month after the sale. Compute the amount of cash received
for September.

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