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Peak sales for J & J Products, a wholesale distributor of leaf rakes, occur in August. Sales the companys planning budget for the third quarter
Peak sales for J & J Products, a wholesale distributor of leaf rakes, occur in August. Sales the companys planning budget for the third quarter are shown below:
July August September
Budgeted Sales on account 5.6 8.8 3.7
From past experience, the company has learned that 8.5 in cash for each months of sales and collected 9.6 in after one month of sale, and 3.6 collected after two month following sale. Bad debts are negligible and can be ignored.
Prepare a schedule of expected cash collections from sales, for September.
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