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Create a table in Word and prepare a schedule of cash collections. Only 1 schedule required to complete option 1 or 2 . 1 .
Create a table in Word and prepare a schedule of cash collections. Only schedule required to complete option or
ABC Company's sales are in cash and on credit. Sixty percent of the credit sales are collected in the month of sale, in the month following sale, and in the second month following sale. The remainder are uncollectible. The following are budgeted sales data:
January
February
March
April
Total sales
$
$
$
$
Twentyfive percent of the XYZs company's sales are for cash and are on credit. Collections for sales on credit follow a stable pattern as follows: of a month's sales are collected in the month of sale, are collected in the month following sale, and are collected in the second month following sale. The remainder is uncollectible. Given this data, cash collections in December should be
September
October
November
December
Budgeted sales
$
$
$
$
Example of table below.
points
Schedule of Expected Cash Collections
Total
sales:
sales:
sales:
sales:
Total Cash Collections
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