Question
The BRS Corporation makes collections on sales according to the following schedule: 40% in month of sale 56% in month following sale 4% in second
The BRS Corporation makes collections on sales according to the following schedule:
| 40% in month of sale |
| 56% in month following sale |
| 4% in second month following sale |
The following sales have been budgeted:
| Sales | ||
| April | $ | 150,000 |
| May | $ | 170,000 |
| June | $ | 160,000 |
Budgeted cash collections in June would be:
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Fraud Auditing And Forensic Accounting
Authors: Tommie W. Singleton, Aaron J. Singleton, G. Jack Bologna, Robert J. Lindquist
3rd Edition
0471785911, 978-0471785910
