7. Millett, Inc. expects unit sales of 20,000,15,000 and 18,000 for January, February and March,...
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7. Millett, Inc. expects unit sales of 20,000,15,000 and 18,000 for January, February and March, respectively. Millet's selling price during the first quarter was $20 per unit. Millett has determined the following collection profile for its sales. all of which are on account: A bank loan is due in March, so Millett's managers want to be sure that they have done a good job of predicting collections. How much cash can Millett expect to collect in their first quarter of operations
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