Question
15) The BRS Corporation makes collections on sales according to the following schedule: 30% in month of sale 60% in month following sale 10% in
15)
The BRS Corporation makes collections on sales according to the following schedule:
| 30% in month of sale |
| 60% in month following sale |
| 10% in second month following sale |
The following sales have been budgeted:
| Sales | ||
| April | $ | 140,000 |
| May | $ | 130,000 |
| June | $ | 150,000 |
Budgeted cash collections in June would be:
Multiple Choice
-
$123,000
-
$45,000
-
$85,000
-
$137,000
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Modern Auditing And Assurance Services
Authors: Philomena Leung, Paul Coram, Barry J. Cooper, Peter Richardson
6th Edition
1118615247, 9781118615249
