Question
4) Search Engine Corp. has provided the following details concerning budgeted sales: Budgeted Sales Jan $75,000 Feb 69,000 March 80,000 April 82,000 May 80,500 June
4) Search Engine Corp. has provided the following details concerning budgeted sales:
Budgeted Sales
Jan $75,000
Feb 69,000
March 80,000
April 82,000
May 80,500
June 92,000
The collection policy of the company is to collect 20% in the month of sale, 40% in the following month, and remaining 40% in the second month after the month of sale. All sales are made on account.
Calculate the cash receipts from customers for the first six months.
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Payroll Accounting 2019
Authors: Jeanette Landin, Paulette Schirmer
5th edition
125991707X, 978-1259917073
