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Memphis Company anticipates total sales for April, May, and June of $960,000, $1060,000, and $1,110,000...

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Accounting

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Memphis Company anticipates total sales for April, May, and June of $960,000, $1060,000, and $1,110,000 respectively. Cash sales are normal 20% of total sales. Of the credit sales, 35% are collected in the same month as the sale, 60% are collected during the first month after the sale, and the remaining 5% are not collected. Compute the amount of cash received from credit sales during the month of May

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