Mini Pearl owns Mini's Miniatures, a store that deals in life's little things. Items sold range from

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Mini Pearl owns Mini's Miniatures, a store that deals in "life's little things." Items sold range from Bonsai trees to miniature paintings to doll furniture. Mini 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 of sale, 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.
Mini provides you with the following information regarding budgeted sales for the next six months:
Mini Pearl owns Mini's Miniatures, a store that deals in

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What are Mini's expected cash collections for October and November?

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Managerial Accounting

ISBN: 978-1118385388

2nd edition

Authors: Ramji Balakrishnan, Konduru Sivaramakrishnan, Geoff B. Sprinkle

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