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Question: Bonita needs to calculate the company's expected cash receipts for the upcoming month. Company sales consist of 40% cash and 60% credit sales. Of the credit sales, 55% are collected in the same month and 42% are collected in the following month. The remainder is generally uncollected. Total budgeted sales in June are $159,000 and in July are $184,000. What amount of total cash receipts would Bonita expect to collect in July?
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