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Business, 28.06.2020 04:01 jasoncarter

Benjamin Corporation began its operations on September 1 of the current year. Budgeted sales for the first three months of business are $250,000, $300,000, and $420,000, respectively, for September, October, and November. The company expects to sell 20 percent of its merchandise for cash. Of sales on account, 70 percent are expected to be collected in the month of the sale, 25 percent in the month following the sale, and the remainder in the following month. The cash collections from accounts receivable in September are

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