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Estimate cash receipts for each month of the first quarter

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Reference no: EM133025106

Question - The Marx Antique Mall budgeted credit sales in the first quarter of 2021 to be as follows:

January $137,600

February $146,200

March $156,400

Credit sales in December 2020 are expected to be $172,000. The company expects to collect 70 percent of a month's sales in the month of sale and30percent in the following month.

Estimate cash receipts for each month of the first quarter of 2021.

Reference no: EM133025106

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