Question
The management of Concord Industries estimates that credit sales for August, September, October, and November will be $525,000, $720,000, $875,000, and $480,000, respectively. Experience has
The management of Concord Industries estimates that credit sales for August, September, October, and November will be $525,000, $720,000, $875,000, and $480,000, respectively. Experience has shown that collections are made as follows:
In month of sale | 25% | ||
In first month after sale | 60% | ||
In second month after sale | 10% |
Determine the collections from customers in October and November. (Do not leave any field blank. Enter 0 for the amounts.)
Collections from Customers | October | November | |||||
---|---|---|---|---|---|---|---|
August Sales | $enter a dollar amount | $enter a dollar amount | |||||
September Sales | enter a dollar amount | enter a dollar amount | |||||
October Sales | enter a dollar amount | enter a dollar amount | |||||
November Sales | enter a dollar amount | enter a dollar amount | |||||
Total budgeted collections | $enter a total amount | $enter a total amount |
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