A company's history indicates that 30% of its sales are for cash and the rest...
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Accounting
A company's history indicates that 30% of its sales are for cash and the rest are on credit. Collections on credit sales are 30% in the month of the sale, 40% in the month following the sale, and 25% in the second month following the sale. Projected sales for January, February, and March are $62,000, $87,000 and $97,000, respectively.
What is the March expected cash receipts from current and prior credit sales ?
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