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I thumbs up, please do for all 3 months listed. if you could provide a brief explanation that would be amazing so i can learn.
I thumbs up, please do for all 3 months listed. if you could provide a brief explanation that would be amazing so i can learn.
Samson Corporation has found that 80% of its sales in any given month are credit sales, while the remainder are cash sales. Of the credit sales, Samson Corporation has experienced the following collection pattern: 20% received in the month of the sale 40% received in the month after the sale 22% received two months after the sale 18% of the credit sales are never received November sales for last year were $105,000, while December sales were $115,000. Projected sales for the next three months are as follows: \begin{tabular}{ll} January sales . . . . . . . . . . . . . . \$ & 155,000 \\ February sales . . . . . . . . . . . . . . \$ & 120,000 \\ March sales. . . . . . . . . . . . . . . . \$ & 170,000 \\ \hline \end{tabular} Requirement Prepare a cash collections budget for the first quarter, with a column for each month and for the quarter. (Round your answers to the nearest whole dollar.) Samson Corporation Cash Collections Budget For the Months of January through MarchStep by Step Solution
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