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November sales for last year were 580,000, while December sales were $110,000. Projected sales for the next three months are as follows: 155,000 Monachino Corporation
November sales for last year were 580,000, while December sales were $110,000. Projected sales for the next three months are as follows: 155,000 Monachino Corporation has found that 80% of its sales in any given month are credit sales, while the remainder are cash sales. Of the credil sales, Monacnino Corporation has experienced the following collection pattern: 20% received in the month of the sale 40% received in the month after the sale 24% received two months after the he sale 16% of the credit sales are never received $ $ 115.000 January sales February sales .......... March sales 180,000 Requirement Prepare a cash collections bucignet for the first quarter, with a column for each month and for the quarter. (Round your answers to the nearest whok dollar) Monachino Corporation Cash Collections Budget For the Months of January through March January February March Quarter Cash sales Collections on credit sales: 20% Month of sale 40% Month after 24% Two months after Tolal cash colections Enter any number in the edit fields and then continue to the next question. ? Screenshot
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