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Jubran Company expects the following sales for the first quarter Of 2022. Month January February March Budgeted Sales $550,000 700,000 850,000 Jubran typically collects 45%
Jubran Company expects the following sales for the first quarter Of 2022.
Month January February March Budgeted Sales $550,000 700,000 850,000 Jubran typically collects 45% of its sales in the month of sale, 52% in the month after sale, with 3% bad debts never collected. Sales in December 2021 were $600,000. Required: Prepare a cash receipts budget for the first quarter ending March 31, 2022, by month.
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Foundations of Financial Management
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen
15th edition
77861612, 1259194078, 978-0077861612, 978-1259194078
