Question
The BRS Corporation makes collections on sales according to the following schedule: 30% in month of sale 65% in month following sale 5% in second
The BRS Corporation makes collections on sales according to the following schedule:
| 30% in month of sale |
| 65% in month following sale |
| 5% in second month following sale |
The following sales have been budgeted:
| Sales | ||
| April | $ | 190,000 |
| May | $ | 120,000 |
| June | $ | 110,000 |
Budgeted cash collections in June would be:
Multiple Choice
-
$120,500
-
$110,000
-
$111,000
-
$110,950
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The Essentials Of Finance And Accounting For Nonfinancial Managers
Authors: Edward Fields
3rd Edition
0814436943, 9780814436943
