Question
Need to calculate the cash receipts for the first quarter of this year. Complete the calculations by filling in the blanks Discuss the observations about
Need to calculate the cash receipts for the first quarter of this year.
Complete the calculations by filling in the blanks
Discuss the observations about the way cash is collected if the company needs $150,000 per month for expenses.
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The budgeted credit sales are as follows:
December last year $250,000
January $125,000
February $300,000
March $90,000
Collection:
Month of the sale 80%
Month following the sale 20%
Estimated cash receipts
January February March
Last month's sales
Current month's sales
Total
Suggestions?
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