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Compute Jackson budgeted cash collections

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Problem - Jackson Company has developed the following sales projections for the calendar year:

May $102,000

June 122,000

July 142,000

August 162,000

September 152,000

October 132,000

Normal cash collection experience has been that 50% of sales is collected during the month of sale and 45% in the month following the sale. The remaining 5% of sales are never collected. Compute Jackson's budgeted cash collections for the third calendar quarter?

Reference no: EM132740924

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