S9-11

S9-11 (similar to) Jewel Service anticipates the following sales revenue over a five-month period: (Click the icon to view the sales data.) The company's sales are 20% cash and 80% 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? Complete the cash budget to determine how much cash will be collected in January, February, March and for the quarter in total. (Round your answers to the nearest whole dollar.) Jewel Service Cash Collections Budget For the Months of January through March January Cash sales Collection of credit sales: 20% Month of sale 40% Month after 35% Two months after Total cash collections X Data Table November December January February March Sales revenue 16,900 10,600 $ 15,800 $ 13,200 $ 14,200 20% in the month of the sale 40% in the month after the sale 35% two months after the sale 5% are never collected