ABC Companys budgeted sales for June, July, and August are 12,400, 16,400, and 14,400 units respectively. The
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ABC Company’s budgeted sales for June, July, and August are 12,400, 16,400, and 14,400 units respectively. The selling price for each unit is $15. Based on past experience, ABC expects that 30% of a month’s sales will be collected in the month of sale, 60% in the following month, and 8% in the second month following the sale. Required: Prepare an analysis of cash receipts from sales for ABC Company for August.
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