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Andler Wholesalers has found that 78% of its sales in any given month are credit sales, while the remainder are cash sales. Of the credit
Andler Wholesalers has found that 78% of its sales in any given month are credit sales, while the remainder are cash sales. Of the credit sales, Andler Wholesalers has experienced the following collection pattern: November sales for last year were $83,000, while December sales were $121,500. Projected sales for the next three months are as follows: 22% paid in the month of the sale 44% paid in the month after the sale 24% paid two months after the sale 10% of the sales are never collected January sales $ 165,000 February sales $ 122,000 March sales $ 176,000 Requirement Prepare a cash collections budget for the first quarter, with a column for each month and for the quarter. (Round your answers to the nearest whole dollar.) Andler Wholesalers Cash Collections Budget For the Months of January through March January Cash sales Collections on credit sales 22% Month of sale 44% Month after 24% Two months after Total cash collections Enter any number in the edit fields and then click Check Answer Clear All 3 remaining Check
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