Question: For ABC Company, experience has shown that payment for the credit sales is received as follows: 50% in the month of sale, 45% in the

For ABC Company, experience has shown that payment for the credit sales is received as follows: 50% in the month of sale, 45% in the first month after sale, 2% in the second month after sale, and 3 uncollectible. ABC Company has budgeted the following credit sales during the last four months of the year: September, $300,000; October, $270,000; November $285,000; December, $ 320,000 . How much cash can ABC Company expect to collect in November as a result of credit sales?

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