Question
Elordi Engineers Corp. has the following budgeted sales data (in dollars): June July August September Credit Sales 290,000 300,000 260,000 310,000 Cash Sales 70,000 70,000
Elordi Engineers Corp. has the following budgeted sales data (in dollars): June July August September Credit Sales 290,000 300,000 260,000 310,000 Cash Sales 70,000 70,000 70,000 70,000 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?Elordi Engineers Corp. has the following budgeted sales data (in dollars): June July August September Credit Sales 290,000 300,000 260,000 310,000 Cash Sales 70,000 70,000 70,000 70,000 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?
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