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A company budgets sales of $205,000 for April and $225,000 for May. Cash sales are 20% of total sales and credit sales are 80%
A company budgets sales of $205,000 for April and $225,000 for May. Cash sales are 20% of total sales and credit sales are 80% of total sales. All credit sales are collected in the month after the sale. Prepare a schedule of cash receipts from sales for May. Schedule of Cash Receipts from Sales Sales Cash receipts from Cash sales Collections of prior period sales Total cash receipts May $ 225,000
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To prepare the schedule of cash receipts from sales for May we need to consider both the cash sales ...
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Cost Accounting A Managerial Emphasis
Authors: Charles T. Horngren, Srikant M.Dater, George Foster, Madhav
14th Edition
978-0132960649, 132960648, 132109174, 978-0132109178
