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What is the estimated total cash collections for april

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Your Company will open a new store on January 1. Based on experience from its other retail outlets, Entertainment Inc. is making the following total sales predictions for the first four months. Eighty-five percent of total sales are on credit.

                    Total sales
January      $60,000
February    $70,000
March         $80,000
April             $90,000

Problem 1: Your Company estimated that the pattern of collection of creditsales will be 45% in the month of sale and 40% in the month following the sale; 10% in the third month, the remaining 5% is uncollectable. What is the estimated total cash collections for April?

Reference no: EM132949027

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