A Manufacturing's budget includes the following credit sales for the current year: September, $150,000; October,...
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Accounting
A Manufacturing's budget includes the following credit sales for the current year:
September, $150,000;
October, $141,000;
November, $125,000;
December, $162,000.
Experience has shown that payment for the credit sales is received as follows: 15% in the month of sale, 50% in the first month after sale, and 35% in the second month after sale.
What are the cash collections of credit sales in the month of December?
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