Question
The BRS Corporation makes collections on sales according to the following schedule: 50% in month of sale 47% in month following sale 3% in second
The BRS Corporation makes collections on sales according to the following schedule:
| 50% in month of sale |
| 47% in month following sale |
| 3% in second month following sale |
The following sales have been budgeted:
| Sales | ||
| April | $ | 170,000 |
| May | $ | 190,000 |
| June | $ | 180,000 |
Budgeted cash collections in June would be:
Garrison 16e Rechecks 2017-09-30, 2018-07-24
Multiple Choice
-
$184,400
-
$180,000
-
$180,510
-
$179,300
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Auditing Cases An Interactive Learning Approach
Authors: Mark S. Beasley, Frank A. Buckless, Steven M. Glover, Douglas F. Prawitt
6th edition
133852105, 978-0133852103
