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28) Wayside Corporation collects 60% of a month's sales in the month of sale, 35% in the month following sale, and 5% in the second month following sale. Budgeted sales for the upcoming four months are: April budgeted sales May budgeted sales June budgeted sales July budgeted sales 80 $110,000 $130,000 $280,000 $200,000 The amount of cash that will be collected in July is budgeted to be .......?

28) Wayside Corporation collects 60% of a month's sales in the month of sale, 35% in the month following sale, and 5% in the second month following sale. Budgeted sales for the upcoming four months are: April budgeted sales May budgeted sales June budgeted sales July budgeted sales 80 $110,000 $130,000 $280,000 $200,000 The amount of cash that will be collected in July is budgeted to be .......?

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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28) Wayside Corporation collects 60% of a month's sales in the month of sale, 35% in the month following sale, and 5% in the second month following sale. Budgeted sales for the upcoming four months are: April budgeted sales May budgeted sales June budgeted sales July budgeted sales 80 $110,000 $130,000 $280,000 $200,000 The amount of cash that will be collected in July is budgeted to be .......?
Transcribed Image Text:28) Wayside Corporation collects 60% of a month's sales in the month of sale, 35% in the month following sale, and 5% in the second month following sale. Budgeted sales for the upcoming four months are: April budgeted sales May budgeted sales June budgeted sales July budgeted sales 80 $110,000 $130,000 $280,000 $200,000 The amount of cash that will be collected in July is budgeted to be .......?
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