What are the expected cash receipts

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Reference no: EM131556064

ABC Corp is preparing its cash budget. It expects to have sales of $37,000 in January, $33,000 in February, $30,000 in March, $32,000 in April, and $35,000 in May. If 25% of sales are for cash, 45% are credit sales paid in the month after the sale, and another 30% are credit sales paid 2 months after the sale, what are the expected cash receipts for May?

Reference no: EM131556064

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