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Estimate cash receipts for May

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Brown Company has found that 30% of its sales are collected in the month of the sale and the remainder of the sales is collected in the next month.

If sales are expected to be $100,000 in April, $120,000 in May, and $80,000 in June, what is the estimated amount of cash receipts for May.

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Brown Company has found that 30% of its sales are collected in the month of the sale and the remainder ...

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