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accounting exercise, need detailing by month Comprehensive Budget Budgeted sales of the company's only product for the next four quarters are: Q1 Q2 50,000 units
accounting exercise, need detailing by month
Comprehensive Budget Budgeted sales of the company's only product for the next four quarters are: Q1 Q2 50,000 units 60,000 units 65,000 units 55,000 units The selling price is $20 per unit. You determine the break down of monthly sales. Sales Budget By Month Budget Sales (units) Budget Sales (5) Schedule of Expected Cash Collections Additional data: All sales are on account. The company collects 75% of these credit sales in the month of the sale; 20% are collected in the month following the sale; and the remaining 5% are uncollectible. The accounts receivable balance on December 31, 2020 was $100,000. All of this balance was collectible. . By Month Step by Step Solution
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