Question: The Guitar Shoppe reports the following sales forecast August 150 000
The Guitar Shoppe reports the following sales forecast: August, $150,000; September, $170,000. Cash sales are normally 40% of total sales, 55% of credit sales are collected in the month following sale, and the remaining 5% of credit sales are written off as uncollectible. Prepare a schedule of cash receipts for September.
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