Question
ABC, Inc.'s expected sales for the first six month of the year are as follows. Month Expected Sales January $120,000 February $150,000 March $160,000 April
ABC, Inc.'s expected sales for the first six month of the year are as follows.
| Month | Expected Sales |
| January | $120,000 |
| February | $150,000 |
| March | $160,000 |
| April | $200,000 |
| May | $220,000 |
| June | $250,000 |
Experience has shown that 60% of sales are collected in the month of sale and 40% are collected the month after sale. Calculate expected cash collections for the month of April.
Answer: $184,000
I need help getting to this answer using a budget table
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Lessons Learned On The Audit Trail
Authors: Richard F.Chambers, CIA, QIAL, CGAP, CCSA, CRMA
1st Edition
0894139037, 978-0894139031
