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The budgeted sales for Modern Machinery Components are shown below: February....$80,000 March....70,000 April.......60,000 May.....40,000 June..50,000 From past experience, the company has learned that 50% of
The budgeted sales for Modern Machinery Components are shown below:
February....$80,000
March....70,000
April.......60,000
May.....40,000
June..50,000
From past experience, the company has learned that 50% of a months sales are collected in the
month of sale, that another 40% is collected in the month following the sale, and that the remaining
10% is collected in the second month following the sale.
Prepare a schedule of expected cash collections from sales, by month and in total, for the
second quarter.
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