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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 20% 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 20% cash and 80% 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 Collections Budget i Data Table Cash sales Collection of credit sales: 20% Month of sale i More Info November Sales revenue .........$ 16,800 December $ 11,000 January 15,600 February $ 12,200 March 14,000 $ $ 40% Month after 25% Two months after Print Done 20% in the month of the sale 40% in the month after the sale 25% two months after the sale Total cash collections 15% are never collected Print Done Enter any number in the edit fields and then click Check
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