Question
Rose Industries has the following sales budget for the 1 st 2 months of the year: January February Cash Sales $450,000 $310,000 Sales on account
Rose Industries has the following sales budget for the 1st 2 months of the year:
|
| January | February |
| Cash Sales | $450,000 | $310,000 |
| Sales on account | $570,000 | $540,000 |
It is estimated that Rose will collect 30% of its sales on account in the month of sale and the remaining 70% the following month. What is the amount of budgeted cash collections for February?
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Fundamentals of Cost Accounting
Authors: William Lanen, Shannon Anderson, Michael Maher
4th edition
78025524, 978-0078025525
