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Estimate cash receipts for each month for goldenantique mall

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Reference no: EM132986875

The GoldenAntique Mall budgeted credit sales in the first quarter of 2021 to be as follows:

January $ 182,400

February 193,800

March 206,800

Credit sales in December 2020 are expected to be $228,000. The company expects to collect70percent of a month's sales in the month of sale and30percent in the following month.

Problem 1: Estimate cash receipts for each month of the first quarter of 2021.

Reference no: EM132986875

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