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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% 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 30% cash and 70% credit. Its collection history indicates that credit sales are collected as follows: A (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? total. (Round your answers to the nearest whole dollar.) Complete the cash budget to determine how much cash will be collected in January, February, March and for the quarter Jewel Service Cash Collections Budget For the Months of January through March January Cash sales Collection of credit sales: Data Table 25% Month of sale 50% Month after 15% Two months after December March Total cash collections November Sales revenue ....... $ 16,400 January $ 15,600 February $ 13,000 11,000 S 14,800 Print Done More Info 25% in the month of the sale 50% in the month after the sale 15% two months after the sale 10% are never collected Print Done
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