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Question 20 The following is the sales budget for Shleifer, Inc., for the first quarter...

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Question 20 The following is the sales budget for Shleifer, Inc., for the first quarter of 2016: January February March Sales $258,000 $274,200 $298,000 Credit sales are collected as follows: 65 percent in the month of the sale. 20 percent in the month after the sale. 15 percent in the second month after the sale. The accounts receivable balance at the end of the previous quarter was $122,800 ($87,750 of which were uncollected December sales). Compute the cash collections from sales for each month from January through March

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