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Abc has completed its sales budget for the first quarter of

Question - ABC has completed its sales budget for the first quarter of 2014. Projected credit sales for the first 4 months of the year are as follows:

Jan $30,000

Feb $36,000

March $45,000

April $48,000

The Company's past records show collection of credit sales as follows: 30% in the month of sale and the balance in the following month. What are the total cash collections from receivables in March?

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Accounting Basics: Abc has completed its sales budget for the first quarter of

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