Question
The Evolution Company has planned the following sales for the next three months: February March April May Sales $45,000 $50,000 $75,000 $60,000 From experience, the
The Evolution Company has planned the following sales for the next three months:
|
| February | March | April | May |
| Sales | $45,000 | $50,000 | $75,000 | $60,000 |
From experience, the Evolution has learned a month's sales are collected according to the following pattern:
| Cash sales | 30% |
| Sales on account collected in month of sale | 40% |
| Sales on account collected one month after sale | 35% |
| Sales on account collected two months after sale | 25% |
Prepare a collections budget for April and May
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Audits Of Public Companies Continued Concentration In Audit Market For Large Public Companies Does Not Call For Immediate Action
Authors: United States Government Accountability
1st Edition
1297008111, 978-1297008115
