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Use the data below from a company's sales for January to April to get a forecast for the collection forecast, including cash sales, for April:
Month Sales
January $220,000
February 140,000
March 150,000
April 140,000
Of the sales above, 30% are for cash and 70% are for credit. Of the credit sales, 58% are collected one month later, 32% are collected two month later, and 10% are collected three months later. What is the collection forecast for April?
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