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O'Reilly Company's projected sales are as follows:
August $470,000September $540,000October $660,000
O'Reilly estimates that it will collect 30% in the month of sale, 50% in the month after the sale, and 20% in the second month following the sale.
Instructions:
Problem 1: How much are O'Reilly Company's budgeted cash receipts for October?
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