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Total cash Collections? Mikail Reeds Budgeted Cash Collections from Customers For the Months of December and January December 261,250 $ January 233,500 $ Cash sales
Total cash Collections?
Mikail Reeds Budgeted Cash Collections from Customers For the Months of December and January December 261,250 $ January 233,500 $ Cash sales Collection of credit sales: 156,750 140,100 20% of current month credit sales 70% of prior month credit sales 548,625 498,750 53,520 8% of credit sales two months ago 57,000 Total collection of credit sales 709,020 745,725 1,679,290 1,724,950 Total cash collectionsStep by Step Solution
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