DE23-10 You prepared Shadz's sales budget in Daily Exercise 23-4. Now assume that Shdz's sales are 25%

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DE23-10 You prepared Shadz's sales budget in Daily Exercise 23-4. Now assume that Shdz's sales are 25% cash and 75% on credit. Shadz's collection history indicates that credit sales are collected as follows: 30% in the month of the sale 60% in the month after the sale 6% two months after the sale 4% are never collected November sales totaled $391.500 and December sales were $398.250. Prepare a schedule for the budgeted cash collections for January and February.

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Accounting

ISBN: 9780130906991

5th Edition

Authors: Charles T. Horngren, Walter T. Harrison, Linda S. Bamber, Betsy Willis, Becky Jones

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