Tanya Corp sells its products on both credit and cash basis. Monthly sales are sold 20% for cash, 80% for credit.

Credit sales are collected 65% in the moth of sale and 35% the following moth. Sales for the first quarter are BUDGETED as follows: January $200,000; February $300,000; March $300,000.

Compute cash collections Budgeted for February. How much cash was collected in the month?

Step-by-step answer

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