Question
A company has projected the following sales for February - July of 2014: February $250,000 March $270,000 April $240,000 May $220,000 June $230,000 July $260,000
A company has projected the following sales for February - July of 2014:
February $250,000
March $270,000
April $240,000
May $220,000
June $230,000
July $260,000
25% of all sales are paid for with cash. The remainder is on credit.
The pattern for credit receivables collections are:
Month of Sale 20%
Month After Sale 45%
Second Month After Sale 35%
What are the forecasted cash collections for the month of June?
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Payroll Accounting 2018
Authors: Jeanette Landin, Paulette Schirmer
4th edition
1260005127, 1259742514, 1260005165, 126000516X, 978-1259742514
