The following credit sales are budgeted by Milford Company: 
The company's past experience indicates that 70% of the accounts receivable are collected in the month of sale, 20% in the month following the sale, and 8% in the second month following the sale. The anticipated cash inflow for the month of August is
A) $648,060.
B) $588,000.
C) $630,000.
D) $617,400.
Correct Answer:
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