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Question

ABC Company has sales forecast for the following: February = $40,000; March = $65,000. All sales are on account

and are collected as follows: 20% in the current month, 50% in the month following, 25% in the second month following, and 5% uncollectible.  If the total cash receipts for March equal $48,250, What is the sales forecast for January?

 
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