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An extract from a company's sales budget is as follows:
Ten per cent of sales are paid for immediately in cash. Of the credit customers, 30 per cent pay in the month following the sale and are entitled to a one per cent discount. The remaining customers pay two months after the sale is made. What is the value of sales receipts shown in the company's cash budget for December? A. $290,430 B. $312,830 C. $285,567 D. $286,620 |