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R company has a projected sales for next year as follows: first quarter 250,000, second...

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Accounting

R company has a projected sales for next year as follows: first quarter 250,000, second quarter 400,000, third quarter 350,000, and fourth quarter 500,000. Beginning accounts receivable totals 120,000. Sixty percent of all sales are credit sales and are collected in the quarter following the quarter in which sales are made. Bad debts are negligible. Prepare a schedule showing expected cash receipts for each quarter and for the year.

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