McFarland Company makes 65 percent of its sales in cash. Credit sales are collected as...
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Accounting
McFarland Company makes 65 percent of its sales in cash. Credit sales are collected as follows: 65 percent in the month of sale and 35 percent in the month following the sale. McFarlands budgeted sales for upcoming months follow:
June
$
24,400
July
44,000
August
42,000
September
40,000
Required: Compute McFarlands expected cash receipts for August.
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