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The Andrews Company sells a product for $10. Budgeted sales for the first quarter of...

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Accounting

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The Andrews Company sells a product for $10. Budgeted sales for the first quarter of next year are as follows: Budgeted Sales January $80,000 February $50,000 $90,000 March The company collects 70% in the month of sale and 25% in the following month. Five percent of all sales are uncollectible and written off. Budgeted cash receipts for February are: Select one: O a. $50,000 O b. $24,000 O c. $55,000 O d. $35,000 e. None of these

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