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Q1) Patuxent Rail Company's sales for next three months are as follows:

February $165,000
March $170,000
April $155,000

Collection history for company points out that 60% of sales are collected in month of the sale, 38% is collected in the following month, and 2% of sales are uncollectible.

Budgeted cash receipts for April?

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M921441

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