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Sweeney Corporation has found that 6 0 % of its sales in any given month are credit sales, while the remainder are cash sales. Of
Sweeney Corporation has found that of its sales in any given month are credit sales, while the
remainder are cash sales. Of the credit sales, Sweeney Corporation has experienced the following
collection pattern:
received in the month of the sale
received in the month after the sale
received two months after the sale
of the credit sales are never received
November sales for last year were $ while December sales were $ Projected
sales for the next three months are as follows:
Requirement
Prepare a cash collections budget for the first quarter, with a column for each month and for
the quarter. Round your answers to the nearest whole dollar.
Sweeney Corporation
Cash Collections Budget
For the Months of January through March
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