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HAM Company has budgeted sales for the next six months as follows: March April May June July August Budgeted Sales $258,000 $239,000 $277,000 $243,000 $216,000
HAM Company has budgeted sales for the next six months as follows: March April May June July August Budgeted Sales $258,000 $239,000 $277,000 $243,000 $216,000 $224,000 25% of the company's sales are cash sales and 75% of the company's sales are made on account. On average, 28% of the sales on account are collected in the month of sale, 36% is collected in the month following sale, 22% is collected in the second month following sale, and the remaining 14% is collected three months after the month of sale. The budgeted cash collections for the month of June is equal to
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