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What are forecasted cash collections for the month of June

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Reference no: EM132562033

Question - A company has projected the following sales for the spring quarter of 2014:

April $200,000

May $250,000

June $275,000

65% of all sales are paid for with cash. The remainder is on credit.

The pattern for credit receivables collections are:

Month of Sale 60%

Month After Sale 30%

Second Month After Sale 10%

Required - What are the forecasted cash collections for the month of June?

Reference no: EM132562033

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