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Singal Inc. is preparing its cash budget. It expects to have sales of $30,000 in January,...

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Finance

Singal Inc. is preparing its cash budget. It expects to havesales of $30,000 in January, $35,000 in February, and $20,000 inMarch. If 20% of sales are for cash, 40% are credit sales paid inthe month after the sale, and another 40% are credit sales paid 2months after the sale, what are the expected cash receipts forMarch?

a. $34,200
b. $28,200
c. $24,600
d. $30,000
e. $27,600

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