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3. the khaki company has the following budgeted sales data: january february march april credit sales ....................................................................................................$400,000 $350,000 $300,000 $320,000 cash sales ......................................................................................................$70,000 $90,000 $80,000 $70,000 the regular pattern of collection of credit sales is 40% in the month of sale, 50% in the month following sale, and the remainder in the second month following the month of sale. there are no bad debts. a) the budgeted cash receipts for april would be: (a) $313,000 (b) $320,000 (c) $350,000 (d) $383,000 b) the budgeted accounts receivable balance on february 28 would be: (a) $175,000 (b) $210,000 (c) $215,000 (d) $250,000

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