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Garnet Service anticipates the following sales revenue over a five-month period: (Click the icon to view the sales data.) The company's sales are 40% cash
Garnet Service anticipates the following sales revenue over a five-month period: (Click the icon to view the sales data.) The company's sales are 40% cash and 60% 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.) Garnet Service Cash Collections Budget For the Months of January through March Cash sales Collection of credit sales: January February 6,080 Data table More info 20% Month of sale 1,824 40% Month after 2,448 November December 3,381 Sales revenue... $ 16,100 $ January February 10,200 $ 15,200 $ 12,800 $ March 14,400 35% Two months after 13,733 20% in the month of the sale 40% in the month after the sale 35% two months after the sale 5% are never collected Total cash collections Print Done Print Done
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