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Topaz Service anticipates the following sales revenue over a five-month period: (Click the icon to view the sales data.) The company's sales are 30% cash
Topaz Service anticipates the following sales revenue over a five-month period: (Click the icon to view the sales data.) The company's sales are 30% cash and 70% credit. Its collection history indicates that credit sales are collected as follows: (Click the icon to view the collections data.) How much cash will be collected in January? In February? In March? For the quarter in total? Complete the cash budget to determine how much cash will be collected in January, February, March and for the quarter in total. (Round your answers to the nearest whole dollar.) Topaz Service Cash Collections Budget For the Months of January through March More Info January Cash sales i Data Table Collection of credit sales: 20% in the month of the sale 20% Month of sale 40% Month after November December January February March 40% in the month after the sale 30% two months after the sale 10% are never collected 30% Two months after Sales revenue $ 16,900 $ 10,400 $ 15,000 $ 12,200 $ 14,600 Total cash collections Print Done Print Done
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