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The WRT Corporation makes collections on sales according to the following schedule: 30% in month of sale 65% in month following sale 5% in second
| The WRT Corporation makes collections on sales according to the following schedule: |
| 30% in month of sale |
| 65% in month following sale |
| 5% in second month following sale |
| The following sales have been are expected: |
| Expected Sales | |
| April | $190,000 |
| May | $120,000 |
| June | $110,000 |
| Budgeted cash collections in June should be budgeted to be:
$110,950 $120,500 $110,000 $111,000 |
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Accounting Information System
Authors: James A. Hall
7th Edition
978-1439078570, 1439078572
