Wallace Publishers Inc. collects 35% of its sales on account in the month of the...
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Accounting
Wallace Publishers Inc. collects 35% of its sales on account in the month of the sale and 65% in the month following the sale. If sales on account are budgeted to be $534,000 for April and $609,000 for May, what are the budgeted cash receipts from sales on account for May
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