Question
Company has budgeted sales for the upcoming months as follows: April $451,000 May $466,000 June $490,000 July $516,000 Aug $508,000 Sept $480,000 30% of the
Company has budgeted sales for the upcoming months as follows:
April $451,000
May $466,000
June $490,000
July $516,000
Aug $508,000
Sept $480,000
30% of the sales are credit sales, the remainder are made in cash. Credit sales are collected 45% in the month of sale, 40% in the month following the sale, and 8% the second month following the sale.
Compute cash receipts for June.
Compute cash receipts for July.
Compute cash receipts for August.
Do NOT round intermediate calculations.
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Fundamentals Of Strategy
Authors: Gerry Johnson, Kevan Scholes, Richard Whittington
2nd Edition
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