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Search Engine Corp. has provided the following details concerning budgeted sales. budgeted sales jan $65,000 feb $79,000 march $90,000 April $102,000 may $96,500 June $92,000
Search Engine Corp. has provided the following details concerning budgeted sales.
budgeted sales
jan | $65,000 | |||||
feb | $79,000 | |||||
march | $90,000 | |||||
April | $102,000 | |||||
may | $96,500 | |||||
June | $92,000 | |||||
The collection policy of the company is to collect 30% in the month of sale, 40% in the following month, and remaining 30% in the second month after the month of sale. All sales are CREDIT SALES made on account. January represents the FIRST MONTH of operations. REQUIRED: Calculate the TOTAL cash receipts by MONTH from customers for EACH of the first six months of operations.
budgeted sales
jan | $65,000 |
feb | $79,000 |
march | $90,000 |
april | $102,000 |
may | $96,500 |
june | $92,000 |
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