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Evaluate cash receipts for each month of first quarter

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Reference no: EM132768390

Problem 1: The Marshall Antique Mall budgeted credit sales in the first quarter of 2018 to be as follows: January $199,000 February 211,000 March 226,000 Credit sales in December 2017 are expected to be $274,000. The company expects to collect 81 percent of a month's sales in the month of sale and 19 percent in the following month. Estimate cash receipts for each month of the first quarter of 2018.

Reference no: EM132768390

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