Question
Quest for Learning is a start-up software development company that develops online training platforms for its clients. Expected revenues for the next few months are
Quest for Learning is a start-up software development company that develops online training platforms for its clients. Expected revenues for the next few months are shown below. July August September Total Budgeted sales (all on account) $ 150,000 $ 200,000 $ 300,000 $ 650,000 Based on the past two years of operations, management expects to collect 50% of a month's sales in the month of sale, 40% in the month following the sale, and the remaining 10% in the second month following the sale. May and June sales totalled $190,000 and $250,000, respectively. The company is not expecting any bad debts. how would a schedule of expected cash collections from sales, by month and in total, for the three months look like.
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