Question
The WRT Corporation makes collections on sales according to the following schedule: -15% in month of sale -75% in month following sale -5% in second
The WRT 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:
-April $ 140,000
-May $ 185,000
-June $ 201,000
Budgeted cash collections in June would be?:
a. $30,150
b. $175,900
c. $145,750
d. $192,900
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Advanced Financial Accounting
Authors: Richard Baker, Valdean Lembke, Thomas King, Cynthia Jeffrey
7th Edition
0073526746, 978-0073526744
