Question
Lee's Appliances forecasts the following sales figures for the next four months. April May June July $250,000 $150,000 $225,000 $150,000 Cash sales average 10% of
Lee's Appliances forecasts the following sales figures for the next four months.
April
May
June
July
$250,000
$150,000
$225,000
$150,000
Cash sales average 10% of total sales and credit sales are collected 50% in the month of sale and 50% in the month following sale. What are the estimated cash collections in June?
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Fundamental Accounting Principles
Authors: John J Wild, Ken Shaw
25th Edition
1260247988, 978-1260247985
