Sharon Corporation collects 10% in the second month following sale, 55% in the month following...
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Accounting
Sharon Corporation collects 10% in the second month following sale, 55% in the month following sale and 30% of a month's sales in the month of sale. The company has found that 5% of their sales are uncollectible. Budgeted sales for the upcoming four months are: August budgeted sales $350,000 September budgeted sales $270,000 October budgeted sales $330,000 November budgeted sales $200,000 The amount of cash that will be collected in November is budgeted to be
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