Question
Prondo Company has the following budgeted sales: April Cash Sales: $5,000 Credit Sales: $5,000 May Cash Sales: $4,000 Credit Sales: $5,000 June Cash Sales: $1,000
Prondo Company has the following budgeted sales:
April Cash Sales: $5,000 Credit Sales: $5,000
May Cash Sales: $4,000 Credit Sales: $5,000
June Cash Sales: $1,000 Credit Sales: $3,000
The collection pattern of credit sales is as follows: 65% in the month of sale, 35% in the month following sale, and 10% uncollectible.
What are the budgeted cash collections in June? (Do not round intermediate calculations. Round the final answer to the nearest whole dollar.)
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Accounting And Auditing Practices In Africa
Authors: Mariaan Roos, Lesley Stainbank
1st Edition
1928357431, 978-1928357438
