Grover has forecast sales to be $132,000 in February, $142,000 in March, $157,000 in April,...
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Accounting
Grover has forecast sales to be $132,000 in February, $142,000 in March, $157,000 in April, and $147,000 in May. The average cost of goods sold is 70% of sales. All sales are made on credit and sales are collected 60% in the month of sale, and 40% the month following. What are budgeted cash receipts in April?
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