Question: Fox Trail Center's sales are all made on-account. The firm's collection experience has been that 31% of a month's sales are collected in the month

Fox Trail Center's sales are all made on-account. The firm's collection experience has been that 31% of a month's sales are collected in the month the sale is made, 48% are collected in the month following the sale, and 19% are collected in the second month following the sale. The sales forecast for the months of May through August is as follows: Required: Calculate the cash collections that would be included in the cash budgets for July and August

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