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Wildhorse Company's budgeted sales and direct materials purchases are as follows: Budgeted Direct Budgeted Sales Materials Purchases January $202,000 $28,000 February 221,000 34,000 March 308,000
Wildhorse Company's budgeted sales and direct materials purchases are as follows: Budgeted Direct Budgeted Sales Materials Purchases January $202,000 $28,000 February 221,000 34,000 March 308,000 48,000 Wildhorse's sales are 40% cash and 60% credit. lt collects credit sales 10% in the month of sale, 50% in the month following sale, and 36% in the second month following sale; 4% are uncollectible. Wildhorse's purchases are 50% cash and 50% on account. It pays purchases on account 60% in the month of purchase, and 40% in the month following purchase. Prepare a schedule of expected collections from customers for March. WILDHORSE COMPANY Schedule of Expected Collections from Customers For the Month Ending March 31, 2022 Januarycredit sales $ Februarycredit sales Marchcash sales Marchcredit sales Total expected collections from customers $
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