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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Advanced Accounting
Authors: Floyd A. Beams, Joseph H. Anthony, Bruce Bettinghaus, Kenneth Smith
11th Edition
978-0132568968, 9780132568968
