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Bramble Companys budgeted sales and direct materials purchases are as follows. Budgeted Sales Budgeted D.M. Purchases January $251,100 $35,100 February 282,800 40,100 March 342,600 46,700
Bramble Companys budgeted sales and direct materials purchases are as follows.
Budgeted Sales | Budgeted D.M. Purchases | ||||
January | $251,100 | $35,100 | |||
February | 282,800 | 40,100 | |||
March | 342,600 | 46,700 |
Brambles sales are 30% cash and 70% credit. Credit sales are collected 10% in the month of sale, 50% in the month following sale, and 36% in the second month following sale; 4% are uncollectible. Brambles purchases are 50% cash and 50% on account. Purchases on account are paid 40% in the month of purchase, and 60% in the month following purchase.
Prepare a schedule of expected collections from customers for March. (Round answers to O decimal places, e.g. 2,500.) BRAMBLE COMPANY Expected Collections from Customers Total collections $ $ MarchStep by Step Solution
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