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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 30%
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 30% cash and 70% 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 Cash sales Collection of credit sales: 25% Month of sale 50% Month after 15% Two months after Total cash collections Cash Collections Budget For the Months of January through March January February March Quarter 4500 3600 4320 12420 3150 2520 3024 8694
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