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Determine the total cash collection from receivables

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Reference no: EM133107714

Question - Meredith Company has completed its sales budget for the first quarter of 2014. Projected credit sales for the first four months of the year are shown below:

January $23,000

February $29,000

March $38,000

April $41,000

The company's past records show collection of credit sales as follows: 23% in the month of sale and the balance in the following month. Determine the total cash collection from receivables in March?

Reference no: EM133107714

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