Question number 9

Question 9 The Marshall Antique Mall budgeted credit sales in the first quarter of 2018 to be as follows: January $199,000 February 211,000 March 226,000 Credit sales in December 2017 are expected to be $274,000. The company expects to collect 81 percent of a month's sales in the month of sale and 19 percent in the following month. Estimate cash receipts for each month of the first quarter of 2018. Collection of credit sales January February March Collection of December sales $ Collection of January sales Collection of February sales Collection of March sales ItA