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Thomas Co is estimating the following sales for the first six months of next year
Month amount ($)
January 350,000
February 300,000
March 320,000
April 410,000
may 450,000
June 470,000
Question 1: Sales at Thomas are normally collected as 70% in the month of sale, 25% in the month following the sale, and the remaining 5% being uncollectible. Also, those customers paying in the month of sales are given a 2% discount. Based on this information, how much cash should Thomas expect to collect during the month of April?
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