Question
Cash Budget McMichael Inc. collects 30% of its sales on account in the month of the sale and 70% in the month following the sale.
Cash Budget
McMichael Inc. collects 30% of its sales on account in the month of the sale and 70% in the month following the sale. If sales on account are budgeted to be $75,000 for September and $66,000 for October, what are the budgeted cash receipts from sales on account for October? $
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Accounting A Smart Approach
Authors: Mary Carey, Jane Towers-Clark, Cathy Knowles
2nd Edition
0199674914, 978-0199674916
