Question
The BRS Corporation makes collections on sales according to the following schedule: 30% in month of sale 60% in month following sale 10% in second
- The BRS Corporation makes collections on sales according to the following schedule:
| 30% in month of sale |
| 60% in month following sale |
| 10% in second month following sale |
The following sales have been budgeted:
|
| Sales |
| |
| April | $ | 140,000 | |
| May | $ | 130,000 | |
| June | $ | 150,000 | |
Budgeted cash collections in June would be:
A) $137,000
B) $85,000
C) $45,000
D) $123,000
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The Audit Process Principles Practice And Cases
Authors: Iain Gray, Louise Crawford, Stuart Manson
7th Edition
1473760186, 9781473760189
