McEwen Company has budgeted the following credit sales during the last four months of the year: September, $17,000;
October, $21,000;
November $20,000;
December, $30,000.
Experience has shown that payment for the credit sales is received as follows:
50%
in the month of sale,
43%
in the first month after sale,
55%
in the second month after sale, and
22%
uncollectible. How much cash can McEwen Company expect to collect in November as a result of credit sales?
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