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What is the total amount of sales forecasted

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Question - Spajer Company has both cash sales and sales on account. In a typical month, 40% of its sales are debited to Cash at the time of the sale and 60% of sales are debited to Accounts Receivable. 20% of the sales on account (Accounts Receivable) are collected in the month of the sale and 30% are collected in the month following the sale. For Q2 of 2022 the company forecasts the following Sales:

Month Sales

April $620,000

May $620,000

June $230,000

Spajer forecasts the beginning balance of Accounts Receivable on April 1 to equal $300,000. What is the total amount of Sales forecasted for Q2?

Reference no: EM133166164

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