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Prepare a schedule of cash receipts from customers

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Problem - Climbers expects total sales of $701,500 for January and $346,000 for February. Assume that Climbers's sales are collected as follows:.

60% in the month of the sale

20% in the month after the sale

15% two months after the sale

5% never collected

November sales totaled $393,000, and December sales were $399,000. Prepare a schedule of cash receipts from customers for January and February. Round answers to the nearest dollar.

Reference no: EM132470781

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