Question
Warehouse Corporation collects 30% of a months sales in the month of sale, 65% in the month following sale, and 5% in the second month
Warehouse Corporation collects 30% of a months sales in the month of sale, 65% in the month following sale, and 5% in the second month following sale. Budgeted sales for the upcoming four months are:
| April budgeted sales | $101924 |
| May budgeted sales | $158242 |
| June budgeted sales | $234027 |
| July budgeted sales | $173115 |
The amount of cash that will be collected in July is budgeted to be:
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Auditing And Assurance Theory And Practice
Authors: Clifford Gomez
1st Edition
8120345665, 978-8120345669
