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please slove this question in a text. Budgeted sales in Allen Company over the next four months are given below: Twenty-five percent of the company's
please slove this question in a text.
Budgeted sales in Allen Company over the next four months are given below: Twenty-five percent of the company's sales are for cash and 75% are on account. Collections for sales on account follow a stable pattern as follows: 50% of a month's credit sales are collected in the month of sale, 30% are collected in the month following sale, and 15% are collected in the second month following sale. The remainder is uncollectible. Instructions: Prepare the cash collections schedule for December Step by Step Solution
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