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Spicer & Co has budgeted its credit sales as follows: June 600000 July 600000 August 800000 September 1200000 October 1400000 November 1600000 Collections of credit

Spicer & Co has budgeted its credit sales as follows: June 600000 July 600000 August 800000 September 1200000 October 1400000 November 1600000

Collections of credit sales are normally as follows: 50 %Collected within 30 days of the end of the month of sale: 30% Collected in 30-60 days: 15 % Collected in 60-90 days: 5 % Uncollectible:

The cash balance on 1st October is expected to be $200,000. Cash payments are expected to total $800,000 each month for July to November. The cash balance at the end of October is expected to be

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