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What were the firm budgeted collections for the quarter

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Question - Gallonte Inc. began operations in April of this year. It makes all sales on account, subject to the following collection pattern: 20% are collected in the month of sale; 70% are collected in the first month after sale; and 10% are collected in the second month after sale. If sales for April, May, and June were $70,000, $90,000, and $80,000, respectively, what were the firm's budgeted collections for the quarter?

Reference no: EM133176700

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