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The Kennel Antique Mall budgeted credit sales in the first quarter of 2021 to be as follows: January $134,400 February 142,800 March 152,800 Credit sales
The Kennel Antique Mall budgeted credit sales in the first quarter of 2021 to be as follows:
January | $134,400 | |
February | 142,800 | |
March | 152,800 |
Credit sales in December 2020 are expected to be $168,000. The company expects to collect 75 percent of a month's sales in the month of sale and 25 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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