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Ruby Service anticipates the following sales revenue over a five-month period: (Click the icon to view the sales data.) The company's sales are 40% cash
Ruby Service anticipates the following sales revenue over a five-month period: (Click the icon to view the sales data.) The company's sales are 40% cash and 60% credit. Its collection history indicates that credit sales are collected as follows: (Click the icon to view the collections data.) How much cash will be collected in January? In February? In March? For the quarter in total? Cash Collections Budget For the Months of January through March January A Data Table Cash sales Collection of credit sales: 25% Month of sale 50% Month after 20% Two months after Total cash collections November Sales revenue ...........$ 16,900 December $ 11,000 January 15,200 February 13,000 March 14,200 $ $ $ 25% in the month of the sale 50% in the month after the sale 20% two months after the sale 5% are never collected
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