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Estimate cash receipts for each month of the first quarter

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Question - The Kennel Antique Mall budgeted credit sales in the first quarter of 2021 to be as follows:

January $134,400

February 142,800

March 152,800

Credit sales in December 2020 are expected to be $168,000. The company expects to collect 75 percent of a month's sales in the month of sale and 25 percent in the following month.

Required - Estimate cash receipts for each month of the first quarter of 2021.

Reference no: EM133152950

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