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The White Corporation makes collections on sales according to the following schedule: 15% in month of sale 75% in month following sale 5% in second
The White Corporation makes collections on sales according to the following schedule: 15% in month of sale
75% in month following sale
5% in second month following sale
5% uncollectible
The following sales have been budgeted:
| Sales | |||
| April | $ | 198,000 | |
| May | $ | 117,000 | |
| June | $ | 159,000 | |
|
| |||
Budgeted cash collections in June would be:
$23,850
$121,500
$97,650
$138,500
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