3. Kramerica Inc. has forecast sales to be $600,000 in January, $480,000 in February, $500,000 in March and $620,000 in April. Forty percent of sales are made in cash, with the remainder on credit. Credit sales are collected 70% in the month of sale, and 30% in the following month. What are budgeted cash collections for April? A. $598,400 B. $248,000 C. $508,400 D. $350,400
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