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please help solve this. I need to fill out the same chart for february sales as well as march. Bentfield Corporat'on has found that 70%
please help solve this. I need to fill out the same chart for february sales as well as march.
Bentfield Corporat'on has found that 70% Of its sales in any given month are credit sales, while the remainder are cash sales. Of the credit sales, Benfield Corporation has experienced the following collection pattern. 25% received in the month Of the sale 50% received in the month after the sale 24% received two months after the sale 1% Of the credit sales are never received November sales for last year were $90,000, While December sales were $110,000. Projected sales for the next three months are as follows: January sales.... February sales March sales..... Requ irement 165,000 115,000 185,000 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.) Cash sales Collections on credit sales: 25% Month Of sale 50% Month after 24% TWO months after Total cash collections Bentfield Corporation Cash Collections Budget For the Months Of January through March January 49,500 28,875 57750 27720 163845
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