Question
BRS corporation makes cash collections on sales according to the following schedule: 20% in the month of the sale, 50% in the month following the
BRS corporation makes cash collections on sales according to the following schedule: 20% in the month of the sale, 50% in the month following the sale, and 30% two months after the sale
Credit Sales are as follows:
|
| April | May | June | July | August | September |
| Budgeted Sales ($) | 120,000 | 100,000 | 110,000 | 90,000 | 85,000 | 100,000 |
What are the Cash collections that would be estimated for the month of June? Please show all steps to your work and do not use excel.
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Fundamentals Of Investing
Authors: Scott B. Smart, Lawrence J. Gitman, Michael D. Joehnk
14th Edition
0135175216, 978-0135175217
