Question
Luol Company has budgeted the following amounts for sales in 2008: Month Sales April $98,000 May 67,000 June 108,000 July 82,000 An analysis of past
Luol Company has budgeted the following amounts for sales in 2008:
| Month | Sales |
| April | $98,000 |
| May | 67,000 |
| June | 108,000 |
| July | 82,000 |
An analysis of past patterns of receipts shows that 60% of the sales dollars are received in the month of the sale and 40% are received in the following month.Assuming this pattern continues, the amount of cash to be received in May and June is
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Management Information Systems Managing the Digital Firm
Authors: Kenneth C. Laudon, Jane P. Laudon
15th edition
134639715, 978-0134639710
