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Jewel Service anticipates the following sales revenue over a five-month period: (Click the icon to view the sales data.) The company's sales are 40% cash
Jewel Service anticipates the following sales revenue over a five-month period: (Click the icon to view the sales data.) The company's sales are 40% cash and 60% credit. Its collection history indicates that credit sales are collected as follows: (Click the icon to view the collections data) How much cash will be collected in January? In February? In March? For the quarter in total? Complete the cash budget to determine how much cash will be collected in January, February, March and for the quarter in total. (Round your answers to the nearest whole dollar.) Jewel Service i Data Table Cash Collections Budget For the Months of January through March January Cash sales Collection of credit sales: 25% Month of sale November Sales revenue...... $ 16,600 December $ 11,200 January 15,000 February $ 12,200 March 14,000 $ $ 50% Month after i More Info Print Done 20% Two months after Total cash collections 25% in the month of the sale 50% in the month after the sale 20% two months after the sale 5% are never collected Enter any number in the edit fields and then click Check
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