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Information pertalning to Noskey Corporation's sales revenue follows: Management estimates 5 % of credit sales to be uncollectible. Of collectible credit sales, 6 0 %
Information pertalning to Noskey Corporation's sales revenue follows:
Management estimates of credit sales to be uncollectible. Of collectible credit sales, is collected in the
month of sale and the remainder in the month following the month of sale. Purchases of Inventory each month
Include of the next month's projected total sales stated at cost plus of projected sales for the current
month stated at cost All Inventory purchases are on account; is paid in the month of purchase, and the
remainder is paid in the month following the month of purchase. Purchase costs are approximately of the
selling price.
Requlred:
Determine for Noskey:
Budgeted cash collections In December from November credit sales.
Budgeted total cash recelpts In January
Budgeted total cash payments in December for Inventory purchases.
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Budgeted total cash receipts in January
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