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Compute cash collections budgeted for february

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Problem

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, $250,000; February, $360,000; March, $300,000.

Compute cash collections budgeted for February. How much cash was collected in the month?

Reference no: EM131819332

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