Question
A firm makes 75% of its sales on account. Half of account sales are actually collected in the same month as the sale. The remaining
| A firm makes 75% of its sales on account. Half of account sales are actually collected in the same month as the sale. The remaining account sales are collected one month after the sale, except for 5% of account sales that are generally uncollectible. The firm has the following budgeted sales amounts. October: $800,000 November: $900,000 December: $1,000,000 What are the total budgeted cash collections (or cash receipts) for the firm in December? | |||||||||||
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A Guide To Risk Based Internal Audit System In Banks
Authors: CA Shiva Chaudhari
1st Edition
1947498649, 978-1947498648
