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Malcom Co.s forecast of sales is as follows: September $350,000; October $450,000; November $600,000; December $800,000. Sales are 45% cash and 55% credit in any
Malcom Co.s forecast of sales is as follows: September $350,000; October $450,000; November $600,000; December $800,000. Sales are 45% cash and 55% credit in any month. Credit sales are collected in full in the following month.
| 1. Determine the budgeted cash receipts for each of October, November, and December? |
| 2. Calculate the balance of Accounts Receivable on October 31 & November 30? |
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