The lamb company budgeted sales for january february and, Ask an Expert

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The Lamb Company budgeted sales for January, February, and March of $96,000, $88,000, and $72,000, respectively. Seventy percent of sales are on credit. The company collects 60% of its credit sales in the month following sale, 35% in the second month following sale, and 5% is not collected. What are Lamb's expected cash receipts for March related to all current and past sales?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9959535

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