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The following information is budgeted for Brown Lighting Company for next quarter:

Sales...........................................................

April May June

$110,000 $130,000 $180,000

All sales at Brown are on credit. Forty percent are collected in the month of sale, 58% in the month following the sale, and the remaining 2% are uncollectible.

What are Brown's cash collections for the month of May?

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Solution Summary

The solution explains how to calculate the cash collections for the month

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