Question
Westdale Corporation has the following sales budget for the last six months of 2022: June $150000 July $200000 August $210000 September $220000 October $180000 November
Westdale Corporation has the following sales budget for the last six months of 2022:
June | $150000 |
July | $200000 |
August | $210000 |
September | $220000 |
October | $180000 |
November | $200000 |
December | $188000 |
Historically, 20% of Sales is sold for Cash and 80% is sold on-account (credit). The credit sales collection has been as follows: 60 percent of sales collected in the same month of sale, 30 percent of sales collected in month following sale, 8 percent of sales collected in the second month following sale, 1 percent of sales collected in the third month following sale and 1 percent is uncollectible (bad debt).
What are the budgeted cash collections for September?
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