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please show working Santana Company is preparing its cash collections budget for January, February and March. Budgeted sales are as follows: ACTUAL production and production
please show working
Santana Company is preparing its cash collections budget for January, February and March. Budgeted sales are as follows: ACTUAL production and production information January February Cash sales $10,000 $9,000 Credit sales 24,000 20,000 Total sales 34,000 29,000 March $7,500 16,500 24,000 Accounts receivable at 1 January were $14,000. The budget assumes that 20% of credit sales are collected in the month of sale, and the remaining 80% are collected one month later. REQUIRED: Prepare a cash collections budget in the cells provided below. January March February $34,400 $7,600 $19,300 Unprotected cells for your rough work. Final answers should be provided in the table aboveStep by Step Solution
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