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The Guitar Shoppe reports the following budgeted sales: August, $190,000; and September, $240,000. For its...

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Accounting

The Guitar Shoppe reports the following budgeted sales: August, $190,000; and September, $240,000. For its total sales, 40% are immediately collected in cash, 50% are credit sales and collected in the month following sale, and the remaining 10% are written off as uncollectible. Prepare a schedule of cash receipts from sales for September.

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