Problem: Pitkins Company collects 20% of a month's sales in the month of sale, 70% in the month following the sale, and 6% in the second month following sale. The remainder is uncollectible. Budgeted sales for the next four months are:
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January
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February
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March
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April
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Budgeted Sales
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$200,000
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$300,000
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$350,000
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$250,000
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