Question
Seventy percent of Parlee Corporation's sales are collected in the month of sale, 25% in the month following sale, and 5% in the second month
Seventy percent of Parlee Corporation's sales are collected in the month of sale, 25% in the month following sale, and 5% in the second month following sale. The following are budgeted sales data for the company:
| Jan | Feb | Mar | Apr | |
| Total Sales | $600,000 | $700,000 | $500,000 | $300,000 |
Total Budgeted cash collections in April would be:
| $125,000 |
| $210,000 |
| $370,000 |
| $35,000 |
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Contemporary Auditing Real Issues And Cases
Authors: Michael C. Knapp, Loreen Knapp
4th Edition
0324048610, 9780324048612
