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Snyder Productions needs to know two numbers: June collections and February sales. Cash sales are 20% of total sales each month. Historically, sales on account
Snyder Productions needs to know two numbers: June collections and February sales. Cash sales are 20% of total sales each month. Historically, sales on account have been collected as follows: 70% in the month of sale, 18% in the next month, and the remaining 12% two months after the sale. Total sales (cash and credit) are projected as follows: March, $90,000. April, $65,000. May, $68,000. June, $52,000. Accounts receivable on March 31 were $30,000. Calculate June collections. Calculate February sales
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