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The Uli Antique Mall budgeted credit sales in the first quarter of 2021 to be as follows: January February March $169,600 180,200 192,400 Credit sales
The Uli Antique Mall budgeted credit sales in the first quarter of 2021 to be as follows: January February March $169,600 180,200 192,400 Credit sales in December 2020 are expected to be $212,000. The company expects to collect 60 percent of a month's sales in the month of sale and 40 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 $ $ $ Collection of January sales Collection of February sales Collection of March sales $ $ $
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