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Wright Corporation began its operations on September 1 of the current year. Budgeted sales for the first three months of business are $246,651, $314,362, and $417,257, respectively, for September, October, and November. The company expects to sell 20% of its merchandise for cash. Of sales on account, 70% are expected to be collected in the month of the sale, 25% in the month following the sale, and the remainder in the following month. What are the cash collections in November from accounts receivable? Select the correct answer. a. $176,043 b. $187,455 c. $306,402 d. $138,125

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Category:- Accounting Basics
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