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How estimate cash receipts for each month of first quarter

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Reference no: EM132958467

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

January $195,200

February 207,400

March 221,200

Credit sales in December 2020 are expected to be $244,000. The company expects to collect 75% of a month's sales in the month of sale and 25% in the following month.

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

Reference no: EM132958467

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