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Can you help with 27, 28, and 29? Minuteman Company's sales were budgeted for the first six months of its fiscal year as follows: April
Can you help with 27, 28, and 29?
Minuteman Company's sales were budgeted for the first six months of its fiscal year as follows: April $340,000 May June 420,000 550,000 July August September $390,000 360,000 480,000 Cash sales are 20 % of total sales. The remaining sales are on credit and management estimates that 55% will be collected in the month following the sale, with the remaining 45% collected the second month following the sale. 27. Cash collections during June are estimated at fill in your answer) 28. Cash collections during August are estimated at (fill in your answer) 29 What is the balance in Accounts Receivable at the beginning of June before June sales are recorded( fill in your answer) Trego Company's unit sales were budgeted for the first six months of its fiscal year as follows: March255,000 May Management wants to maintain an ending inventory equal to 8% of the next month's sales. 290,000 295,000 June July August 250,000 250,000 225,000Step by Step Solution
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