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Please answer for all months involved! Samson Corporation has found that 60% of its sales in any given month are credit sales, while the remainder
Please answer for all months involved!
Samson Corporation has found that 60% of its sales in any given month are credit sales, while the remainder are cash sales. Of the credit sales, Samson Corporation has experienced the following collection pattern: November sales for last year were $80,000, while December sales were $125,000. Projected sales for the next three months are as follows: 25% received in the month of the sale 50% received in the month after the sale January sales $ 185,000 February sales 130,000 March sales $ 200,000 Requirement Prepare a cash collections budget for the first quarter, with a column for each month and for the quarter. (Round your answers to the nearest whole dollar.) 16% received two months after the sale 9% of the credit sales are never received Samson Corporation Cash Collections Budget For the Months of January through March January - Cash sales Collections on credit sales: 25% Month of sale 50% Month after 16% Two months after Total cash collections Enter any number in the edit fields and then click CheckStep by Step Solution
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