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The Following Credit Sales Are Budgeted by Milford Company

Question 87

Multiple Choice

The following credit sales are budgeted by Milford Company: The following credit sales are budgeted by Milford Company: The company's past experience indicates that 70% of the accounts receivable are collected in the month of sale, 20% in the month following the sale, and 8% in the second month following the sale.The anticipated cash inflow for the month of August is A) $864,080. B) $784,000. C) $840,000. D) $823,200. The company's past experience indicates that 70% of the accounts receivable are collected in the month of sale, 20% in the month following the sale, and 8% in the second month following the sale.The anticipated cash inflow for the month of August is


A) $864,080.
B) $784,000.
C) $840,000.
D) $823,200.

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