Question
All of Podcast Corporation's sales are on account. Sixty percent of the credit sales are collected in the month of sale, 30% in the month
All of Podcast Corporation's sales are on account. Sixty percent of the credit sales are collected in the month of sale, 30% in the month following sale, and 10% in the second month following sale. The following are budgeted sales data for the company:
| January | February | March | April | |||
|---|---|---|---|---|---|---|
| Total sales | $700,000 | $500,000 | $400,000 | $600,000 |
Accounts Receivable at the end of April are expected to be:
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Financial Accounting An Introduction
Authors: Pauline Weetman
7th Edition
1292086696, 978-1292086699
