Please help me find the total budgeted cash collections in January CoursHeroTranscribedText: Information pertaining...
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Please help me find the total budgeted cash collections in January
CoursHeroTranscribedText: Information pertaining to Yekstop Corp.'s sales revenue is presented below: November December January Cash sales $ 97,000 $126,000 $ 79,000 Credit sales 289,000 451,000 235,000 Total sales $386,000 $577,000 $314,000 Management estimates that 4% of credit sales are eventually uncollectible. Of the collectible credit sales, 60% are likely to be collected in the month of sale and the remainder in the month following the month of sale. The company desires to begin each month with an inventory equal to 70% of the sales projected for the month. All purchases of inventory are on open account; 20% will be paid in the month of purchase, and the remainder paid in the month following the month of purchase. Purchase costs are approximately 50% of the selling prices. Total budgeted cash collections in January by Yekstop Corp. are
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