Tofte co. has forecast sales to be 400000 in may 475000 in, Ask an Expert

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Tofte Co. has forecast sales to be $400,000 in May, $475,000 in June, $575,000 in July and $700,000 in August. Forty percent of sales are cash, the remainders are on account. Credit sales are collected 60% in the month of sale, the remaining the following month. What are budgeted cash collections for July?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M945729

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