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Bramble Company's budgeted sales and direct materials purchases are as follows. Budgeted Sales Budgeted D.M. Purchases January $244,000 $36,600 268,400 43,920 February March 305,000 46,360
Bramble Company's budgeted sales and direct materials purchases are as follows. Budgeted Sales Budgeted D.M. Purchases January $244,000 $36,600 268,400 43,920 February March 305,000 46,360 Bramble's 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. Bramble's 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. BRAMBLE COMPANY Schedule of Expected Collections from Customers March > $ > Total payments $ $
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