Question
Given the data table below answer the questions. Data table Pillows.com Sales Budget: Type of Sale For the Quarter Ended March 31 Type of Sale:
Data table Pillows.com Sales Budget: Type of Sale For the Quarter Ended March 31 Type of Sale: January February March 1st Quarter Cash sales (10%) $170,000 $289,000 $323,000 $782,000 Credit sales (90%) 1,530,000 2,601,000 2,907,000 $7,038,000 Total sales revenue $1,700,000 $2,890,000 $3,230,000 $7,820,000 The company's collection history indicates that 75% of credit sales is collected in the month after the sale, 15% is collected two months after the sale, 8% is collected three months after the sale, and the remaining 2% is never collected.
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Managerial Accounting
Authors: Karen W. Braun, Wendy M. Tietz
4th edition
978-0133428469, 013342846X, 133428370, 978-0133428377
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