Question
The total budgeted sales for July, August, and September were SR 200,000, SR 1000,000, and SR 600,000 are summed for the quarter ended September 30th.
The total budgeted sales for July, August, and September were SR 200,000, SR 1000,000, and SR 600,000 are summed for the quarter ended September 30th. All sales are made on the account. 70% collected in the month of sale, 30% collected in the month following sale. The June 30 accounts receivable balance of SR 60,000 will be collected in full. What will be the total cash collections for the quarter?
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Sound Investing, Chapter 11 - Crafty Comprehensive Income
Authors: Kate Mooney
1st Edition
0071719334, 9780071719339
