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Please do all months, thank you. Bentfield Corporation has found that 60% of its sales in any given month are credit sales, while the remainder
Please do all months, thank you.
Bentfield 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, Bentfield Corporation has experienced the following collection pattern: November sales for last year were $95,000, while December sales were $115,000. Projected sales for the next three months are as follows: $ 180,000 G 25% received in the month of the sale January sales February sales 120,000 50% received in the month after the sale March sales $ 190,000 16% received two months after the sale 9% of the credit sales are never received 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.) Bentfield Corporation Cash Collections Budget For the Months of January through March January Cash sales 72000 Collections on credit sales: 25% Month of sale 27000 50% Month after 16% Two months after Total cash collectionsStep by Step Solution
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