Zheng Industries sells a product for $900. Unit sales for May were 400 and each...
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Accounting
Zheng Industries sells a product for $900. Unit sales for May were 400 and each months sales are expected to exceed the prior months results by 2%. Zheng pays a sales manager a monthly salary of $3,000 and a commission of 1% of sales in dollars. Assume 25% of Zhangs sales are for cash. The remaining 75% are credit sales; these customers pay in the month following the sale. Compute the budgeted cash receipts for June.
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