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Jackson makes hockey sticks. This info is used to help budget work. All sales are on account. Based on past experience, sales are collected in

Jackson makes hockey sticks.
This info is used to help budget work.
All sales are on account. Based on past experience, sales are collected in the following pattern:
30% in the month of sale
65% in the month following sale
5% uncollectible
Sales for June 200x totaled $300,000.
The company maintains finished goods inventories equal to 15 percent of the following month's sales.
This requirement will be met at the end of June.
The schedule of expected cash collection from sales for each of the months of July and August.
The production budget in units for each of the months of July and August.
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