Question: LifeTyme Publishers Inc collects 30 of its sales on account
LifeTyme Publishers Inc. collects 30% of its sales on account in the month of the sale and 70% in the month following the sale. If sales on account are budgeted to be $ 320,000 for June and $ 350,000 for July, what are the budgeted cash receipts from sales on account for July?
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