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Jackson Company has budgeted sales for the next five months as follows : January February March April May Budgeted Sales in Units 6,200 units 8,400
Jackson Company has budgeted sales for the next five months as follows : January February March April May Budgeted Sales in Units 6,200 units 8,400 units 9,100 units 5,700 units 3,500 units Jackson's product sells for $20 per unit. Experience has shown that 10 % of the company's sales are cash sales and 90% of the company's sales are made on account. On average, 45% of the sales on account are collected in t he month of sale, 28% are collected in the month following sale, 16% are collected in the second month following sale, and the remaining 11% is collected three months after the month of sale. Calculate Jackson Company's budgeted accounts receivable at May 31
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