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please solve attached question ? Cash Collection and Payment Budget Laval Manufacturing Company's projected sales and direct materials purchases are as follows: Laval's sales are
please solve attached question ?
Cash Collection and Payment Budget Laval Manufacturing Company's projected sales and direct materials purchases are as follows: Laval's sales are 50% cash and 50% credit. Credit sales are collected 20% in the month of sale, 50% in the month following sale, and 28% in the second month following sale: 2% are uncollectible. Laval's Direct Materials purchases are 40% cash and 60% on account. Direct Materials purchases on account are paid 50% in the month of purchase, and 50% in the month following purchase. REQUIRED: 1. Prepare a cash collections budget for March only, using the following format: 2. Determine the amount of cash payments for the DM purchases for March only, using the following format Step by Step Solution
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