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Please read directions carefully I asked for help on this question and it was incorrect and now I'm confused even more the question asks to
Please read directions carefully I asked for help on this question and it was incorrect and now I'm confused even more the question asks to prepare a cashCollections budget for the first quarter which inclides march with a column for each in for the quarter round the answer to the nearest whole dollar
Question Help Smith Corporation has found that 70% of its sales in any given month are credit sales while the remainderare cash sales of the credit sales, Smith Corporation has experienced the following collection pattern November sales for last year were $105 000, whide December sales were $120,000 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 24% received two months after the sale 1% of the credit sales are never received $ 170,000 February Sales $ 130 000 $ 195.000 Requirement Prepare a cash comections budget for the first quarter with a column for a month and for the quarter Round your answers to the nearest whole do ) Smith Corporation Cash Collections Budget For the Months of January through March January February Cash sales Smith Corporation Cash Collections Budget For the Months of January through March January February 51.000 Cash sales 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 57,000 Cash sales Collections on credit sales: 25% Month of sale 50% Month after 29,750 | 42,000 17,640 24% Two months after 140,390 Total cash collections Smith Corporation has found that 70% of its sales in any given month are credit sales, while the remainder are cash sales. Of the credit sales. Smith Corporation has experienced the following collection pattem: 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 SOU Smith Corporation Cash Collections Budget For the Months of January through March January February Enter any number in the edit fields and then click Check Step by Step Solution
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