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Problem 1: Assume a company is preparing a budget for its first two months of operations. During the first and second months it expects credit sales of $40,000 and $73,000, respectively. The company expects to collect 30% of its credit sales in the month of the sale, 60% in the following month, and 10% is deemed uncollectible. What amount of cash collections from credit sales would the company include in its cash budget for the second month?
Multiple Choice Option 1: $21,900 Option 2: $45,900 Option 3: $53,200 Option 4: $43,800
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Social Security benefits paid to D's family at D's death includible in D's gross estate under Section 2033
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