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Campbells Wholesale Company is preparing monthly cash budgets for the fourth quarter of 2016. Monthly sales revenue in this quarter is estimated as follows: October,
Campbells Wholesale Company is preparing monthly cash budgets for the fourth quarter of 2016. Monthly sales revenue in this quarter is estimated as follows: October, $30,000; November, $24,000; and December, $20,000. All sales are made on open credit with 70% collected in the month of sale and 30% collected in the following month. What is the estimated total cash collected in November? December? |
1.) Estimated total cash collected for the months of November and December?
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