Question
The company has available the following information necessary for the preparation of the budget for the second quarter of 2023 (April-June): april may june july
The company has available the following information necessary for the preparation of the budget for the second quarter of 2023 (April-June):
| april | may | june | july | august | september | october | |
| Sales forecast in dollars | 392739 | 432013 | 471287 | 510561 | 569472 | 628382 | 687293 |
The company collects 60% of its sales during the month of the sale, 30% the following month, and 10% two months after the month of the sale. The sales price of the product is $5.60 per unit.
REQUIRED: Determine the cash collected in the April-June quarter. Assume April is the first month of operations. Do not use dollar signs, commas, or decimals.
Answer:
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Auditing and Assurance Services A Systematic Approach
Authors: William Messier, Steven Glover, Douglas Prawitt
9th edition
1308361491, 77862333, 978-1259248290, 9780077862336, 1259162346, 978-1259162343
