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Please show as much working as possible. Thank you for your help. 22) Salazar Company has the following sales budget for the last six months
Please show as much working as possible. Thank you for your help.
22) Salazar Company has the following sales budget for the last six months of 2018 all sales are on credit: The cash collection of sales, historically, has been as follows: 55% of sales collected in the month of sale, 35% of sales collected in the month following the sale, 7% of sales collected in the second month following the sale, and 3% of sales are uncollectible. Required: Prepare the cash collections budget for October, November, and December and the ending accounts receivable budget for DecemberStep by Step Solution
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