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Question: ABC Inc. is preparing its cash budget. It expects to have sales of $40,000 in April, $48,000 in May, and $55,000 in June. If 18% of sales are for cash, 30% are credit sales paid in the month after the sale, and another 50% are credit sales paid 2 months after the sale, and 2% are lost to bad debts, what are the expected cash receipts for June?

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Category:- Basic Finance
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