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Q3 help w the quarter side pls Sweeney Corporation has found that 60% of ins sales in any given month are credit sales, white November
Q3 help w the quarter side pls
Sweeney Corporation has found that 60% of ins sales in any given month are credit sales, white November sales for last year were $95,000, while December salos were $115,000. the remainder are cash sales. Of the credi sales, Sweeney Corporation has experienced the Projected sales for the next three months are as follows: following collection patwern: 25% received in the month of the sale 50% received in the month after the sale 16% received two months affer the sale 9% of the credit salos are never received February sales 5130,000 March sales.................. \$ 165,000 Requirement Prepare a casin colloctions budget for the first quarler, with a column for each month and for the quarter: (Round your answers to the nearest whole dollar) Sweenty Corporation Cash Collections Budget For the Monthe of January through March Cash sales Collections on credi sales 25% Month of sile 50% Morth after 16% Two months afier Total cach colections Step by Step Solution
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