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Estimate cash receipts for each month of the first quarter

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Reference no: EM13952256

The Warrenburg Antique Mall budgeted credit sales in the first quarter of 2012 to be as follows:
January .......$160,000
February ........$170,000
March ........$182,000
Credit sales in December 2011 are expected to be $220,000. The company expects to collect 80 percent of a month's sales in the month of sale and 20 percent in the following month.

Required:

Estimate cash receipts for each month of the first quarter of 2012. 

Reference no: EM13952256

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