Mina Pizzini owns Minas Miniatures, a store that deals in lifes little things. Items sold range from

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Mina Pizzini owns Mina€™s Miniatures, a store that deals in €œlife€™s little things.€ Items sold range from Bonsai trees to miniature paintings to doll furniture. Mina believes that 30% of any month€™s sales are for cash, with the remaining 70% being on credit. Of the credit sales, Mini collects 40% during the month after the sale, and 50% in two months. After much effort, Mini recovers a further 8% of credit sales three months after the sale occurs. She writes off 2% of credit sales as uncollectible.
Mina provides you with the following information regarding budgeted sales for the next six months:

Mina Pizzini owns Mina€™s Miniatures, a store that deals in

Required:
Determine Mina€™s expected cash collections, by month, for October throughDecember.

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Managerial accounting

ISBN: 978-0471467854

1st edition

Authors: ramji balakrishnan, k. s i varamakrishnan, Geoffrey b. sprin

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