Tanya Corp sells its products on both credit and cash basis. Monthly sales are sold...
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Accounting
Tanya Corp sells its products on both credit and cash basis. Monthly sales are sold 20% for cash, 80% for credit. Credit sales are collected 65% in the month of sale and 35% the following month. Sales for the first quarter are BUDGETED as follows: January $300,000; February $200,000; March $300,000. Compute cash collections budgeted for February. How much cash was collected in the month?
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