ABC Company's budgeted sales for June, July, and August are $15,200,19,200,$ and $17,200$ units respectively. The selling price for each unit is $$15.$ Based on past experience, ABC expects that $30\%$ of a month's sales will be collected in the month of sale, $60\%$ in the following month, and $7\%$ in the second month following the sale.

$5\mathrm{.}5$

points

Required:

Sidpped

Prepare an analysis of cash receipts from sales for ABC Company for August.

$\backslash$table$[[,$June,July,August$],[$Budgeted sales units,,,$],[$Unit selling price,,,$],[$Budgeted sales revenue,,,$],[$August collections:,,,$],[$Current month's sales,,,$],[$Prior month's sales,,,$],[$Second prior month's sales,,,$],[$Total collections,,,$]]$

ABC Company's budgeted sales for June, July, and August are $15,200,19,200,$ and $17,200$ units respectively. The selling price for each unit is $$15.$ Based on past experience, ABC expects that $30\%$ of a month's sales will be collected in the month of sale, $60\%$ in the following month, and $7\%$ in the second month following the sale.

Required:

Prepare an analysis of cash recelpts from sales for ABC Company for August.

$\backslash$table$[[,$June,July,August$],[$Budgeted sales units,,,$],[$Unit selling price,,,$],[$Budgeted sales revenue,,,$],[$August collections:,,,$],[$Current month's sales,,,$],[$Prior month's sales,,,$],[$Second prior month's sales,,,$],[$Total collections,,,$]]$