Question
The Staub Corporation has the following budgeted sales for the first half of fiscal 2019: Cash Sales Credit Sales January $50,000 $150,000 February $55,000 $170,000
The Staub Corporation has the following budgeted sales for the first half of fiscal 2019:
Cash Sales Credit Sales
January $50,000 $150,000
February $55,000 $170,000
March $29,000 $130,000
April $24,000 $109,000
May $34,000 $200,000
June $80,000 $230,000
The company is in the process of preparing its cash budget and has assembled the following information:
Collections on sales:
45% in month of sale
35% in month following sale
20% in second month following sale
What will Staub Corporations budgeted accounts receivable be on May 31, 2019?
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Principles of Auditing An Introduction to International Standards on Auditing
Authors: Rick Hayes, Philip Wallage, Hans Gortemaker
3rd edition
273768174, 978-0273768173
