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A company has a receivables collection pattern of 10% in the month of sale, 70% one month after sale, and the remaining 20% two months
A company has a receivables collection pattern of 10% in the month of sale, 70% one month after sale, and the remaining 20% two months after sale. They are at the end of march and are trying to develop a receipts and disbursements budget based on the information below. Please determine what the projected collections will be for april, may and June.
sales(Jan-Mar = Actual; April - June = Projected)
Jan= $100,000 Feb = $200,000 Mar = $400,000 APR = $700,000 May = $300,000 June = $200,000
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