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Question - The following credit sales are budgeted by Polex Electronics:
January $124,000
February 120,000
March 135,000
April 140,000
May 142,000
The company's past experience indicates that 50% of the accounts receivable are collected in the month of sale, 30% in the month following the sale, and 18% in the second month following the sale. Two percent are uncollectible. How much does the company anticipate as cash receipts for March?
A. $135,060
B. $125,820
C. $122,300
D. $132,300
Make payments every 3 months over the course of 48 months at an interest rate of 0.99% compounded monthly. What is the amount of each payment?
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