Question
Oakton Furniture provided the following information relevant to its sales for December Year 1 and the first quarter of Year 2: December Year 1 (Actual)
Oakton Furniture provided the following information relevant to its sales for December Year 1 and the first quarter of Year 2:
| December Year 1 (Actual) | January Year 2 (Budgeted) | February Year 2 (Budgeted) | March Year 2 (Budgeted) | |
|---|---|---|---|---|
| Credit sales | $ 53,000 | $ 133,000 | $ 148,000 | $ 103,000 |
| Cash sales | $ 16,000 | $ 18,000 | $ 23,000 | $ 5,000 |
Based on the company's collection history, 42% of credit sales are collected in month of sale and the remainder is collected in the following month. Total budgeted cash receipts in February are expected to be:
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Statistical Audit Automation The Principles Of Statistical Sampling Of Business Accounts
Authors: Nathan Poeschl
1st Edition
B0B17YP1SR, 979-8829041991
