Question
Elordi Engineers Corp. has the following budgeted sales data (in dollars): June July August September Credit Sales 290,000 270,000 260,000 290,000 Cash Sales 70,000 60,000
Elordi Engineers Corp. has the following budgeted sales data (in dollars):
| June | July | August | September | |
| Credit Sales | 290,000 | 270,000 | 260,000 | 290,000 |
| Cash Sales | 70,000 | 60,000 | 80,000 | 90,000 |
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 cash receipts during September be?
Round your answer to the nearest whole number.
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Accounting Principles
Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso
12th edition
1119132223, 978-1-119-0944, 1118875052, 978-1119132226, 978-1118875056
