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Determine the cash collections for June

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Question - MartinRea Industries estimates that for credit sales, 55% of cash is received in the month of sale, 35% in the month after the sale, and 13% second month after the sale. The remainder is never collected. MartinRea had credit sales of $78,000 in April; $92,000 in May, and $115,000 in June. Given the following information, determine the cash collections for June.

Reference no: EM132610990

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