Question
Elordi Engineers Corp. has the following budgeted sales data (in dollars): June July August September Credit Sales 310,000 290,000 290,000 310,000 Cash Sales 6,000 60,000
Elordi Engineers Corp. has the following budgeted sales data (in dollars):
| June | July | August | September | |
| Credit Sales | 310,000 | 290,000 | 290,000 | 310,000 |
| Cash Sales | 6,000 | 60,000 | 70,000 | 60,000 |
The regular pattern of collection of credit sales is 30% in the month of sale, 60% in the month following sale, and the remainder in the second month following the month of sale. There are no bad debts.
What would the budgeted accounts receivable balance be at the end of July?
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Profit First For Dentists Proven Cash Flow Strategies For Financial Freedom
Authors: Barbara Stackhouse, Drew Hinrichs, Mike Michalowicz
1st Edition
1735907804, 978-1735907802
