13. All of the Griffith Company's sales are on credit. Seventy percent of the credit...
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13. All of the Griffith Company's sales are on credit. Seventy percent of the credit sales are collected in the month of sale, twenty percent in the month following sale, and five percent in the second month following sale. The remaining credit sales are expected to be uncollectible company's sales budget for the year included budgeted sales of $140,000 in January, $120,000 in February, and $160,000 in March. Total cash receipts in March would be budgeted to be a. $130,000 b. $143,000. The c. $413,000. d. $420,000. e, $112,000
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