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Complete the cash budget to determine how much cash will be collected in January, February, March and for the quarter in total. Jewel Service anticipates
Complete the cash budget to determine how much cash will be collected in January, February, March and for the quarter in total.
Jewel Service anticipates the following sales revenue over a five-month period: (Click the icon to view the sales data.) The company's sales are 20% cash and 80% credit. Its collection history indicates that credit sales are collected as follows: (Click the icon to view the collections data.) How much cash will be collected in January? In February? In March? For the quarter in total? Complete the cash budget to determine how much cash will be collected in January, February, March and for the quarter in total. (Round your answers to the nearest whole dollar.) More Info - x Jewel Service Cash Collections Budget For the Months of January through March 20% in the month of the sale January 40% in the month after the sale Cash sales X Data Table 30% two months after the sale 10% are never collected Collection of credit sales: 20% Month of sale 40% Month after November December March Print Done January $ 15,200 February $ 12,800 30% Two months after Sales revenue $ 16,100 $ 10,200 $ 14,800 Total cash collections Print Done Enter any number in the edit fields and then click CheckStep by Step Solution
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