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Calculate the amount of cash budgeted to be received

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Question - The receivables collection record of Data Ltd shows that receivables are expected to pay as follows:

Invoices paid the month after sale 42%

Invoices paid the second month after sale 35%

Invoices paid the third month after sale 20%

Irrecoverable Debts 3%

Invoices are issued on the last day of every month.

It is company policy to allow customers a 2% settlement discount when they pay in the month after sale.

The Credit Sales for July to October are budgeted to be as follows:

July £75,000

August £65,000

September £95,000

October £60,000

Required - Calculate the amount of cash budgeted to be received in October.

Reference no: EM132982198

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