CH 8 Homework Questions

value: 1 20.00 points Getty Company expects sales for the first three months of next year to be $210,000, $235,000 and $280,000, respectively. Getty expects 40 percent of its sales to be cash and the remainder to be credit sales. The credit sales will be collected as follows: 10 percent in the month of the sale and 90 percent in the following month Compute a schedule of Getty's cash receipts for the months of February and March. February March Budgeted Cash Receipts