Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

can you please do a budget for January, February, and March? Braxton Wholesalers has found that 81% of its sales in any given month are

can you please do a budget for January, February, and March?
image text in transcribed
image text in transcribed
Braxton Wholesalers has found that 81% of its sales in any given month are credit sales, while the remainder are cash sales. Of the credit sales, Braxton Wholesalers has experienced the following collection pattern: 24% paid in the month of the sale 48% paid in the month after the sale November sales for last year were $82,000, while December sales were $119,500. Projected sales for the next three months are as follows: January sales. $ 158,000 February sales $ 121,000 March sales $ 183,000 (Round your answers to the nearest whole dollar.) Braxton Wholesalers Cash Collections Budget For the Months of January through March January Cash sales Collections on credit sales: 24% Month of sale 48% Month after 18% Two months after Total cash collections

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

GAO Financial Audit Manual Volume 1 Updated April 2020

Authors: United States Government GAO

2020 Edition

B091PR8396, 979-8733135977

More Books

Students also viewed these Accounting questions

Question

13. How important are services in the U.S. economy?

Answered: 1 week ago

Question

List the components of the strategic management process. page 72

Answered: 1 week ago