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The Ceradyne Antique Mall budgeted credit sales in the first quarter of 2021 to be as follows: January $ 131,200 February 139,400 March 149,200 Credit
The Ceradyne Antique Mall budgeted credit sales in the first quarter of 2021 to be as follows:
January | $ 131,200 | |
February | 139,400 | |
March | 149,200 |
Credit sales in December 2020 are expected to be $ 164,000. The company expects to collect 70 percent of a month's sales in the month of sale and 30 percent in the following month. Estimate cash receipts for each month of the first quarter of 2021.
Collection of credit sales | January | February | March | |||
---|---|---|---|---|---|---|
Collection of December sales | $ enter a dollar amount | $ enter a dollar amount | $ enter a dollar amount | |||
Collection of January sales | enter a dollar amount | enter a dollar amount | enter a dollar amount | |||
Collection of February sales | enter a dollar amount | enter a dollar amount | enter a dollar amount | |||
Collection of March sales | enter a dollar amount | enter a dollar amount | enter a dollar amount | |||
$ enter a total dollar amount | $ enter a total dollar amount | $ enter a total dollar amount |
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