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Music World reports the following sales forecast: August, $120,000; and September, $260,000. Cash sales are...

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Music World reports the following sales forecast: August, $120,000; and September, $260,000. Cash sales are normally 40% of total sales and all credit sales are expected to be collected in the month following the date of sale. Prepare a schedule of cash receipts for September. MUSIC WORLD Cash Receipts Budget For Month Ended September 30 September cash sales Collection of accounts receivable : Total budgeted cash receipts $104,000 $ 104,000

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