Question: Songforth Inc. is preparing its cash budget. It expects to have sales of $600,000 in January, $650,000 in February, $670,000 in March, and $700,000 in

Songforth Inc. is preparing its cash budget. It expects to have sales of $600,000 in January, $650,000 in February, $670,000 in March, and $700,000 in April. If 25% of sales are for cash, 30% are credit sales paid in the month after the sale, and another 43% are credit sales paid 2 months after the sale, and 2% are never collected, what are the expected cash receipts for March?

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