Compute the total cash budgeted to be collected in march if


Northwest Equipment offers a 3% discount to customers who pay cash at the time of sale and a 2% discount to customers who pay within the first 10 days of the month after sale. Past experience shows that cash collections from customers tend to occur in the following pattern: Cash collected at time of sale 55% Collected within cash discount period in first 10 days of month after sale 15% Collected after cash discount period in first month after month of sale 10% Collected after cash discount period in second month after month of sale 15% Never collected 5% Compute the total cash budgeted to be collected in March if sales forecasts are $370,000 for January, $420,000 for February, and $460,000 for March. The answer has 5 boxes with the following choices to be calculated in addition to total cash collections: January sales within discount period February sales within discount period February sales after discount period March sales within discount period March sales after discount period

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Accounting Basics: Compute the total cash budgeted to be collected in march if
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