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Brooklyn Studios sales are all made on account. The firms collection experience has been that 32% of a months sales are collected in the month
Brooklyn Studios sales are all made on account. The firms collection experience has been that 32% of a months sales are collected in the month the sale is made, 51% are collected in the month following the sale, and 15% are collected in the second month following the sale. The sales forecast for the months of September through December is as follows: September $ 234,000 October 281,000 November 315,000 December 371,000 Required: Calculate the cash collections that would be included in the cash budgets for November and December.
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