A companyrsquos experience shows that 30 of its sales are, Ask an Expert

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A Company’s experience shows that 30% of its sales are for cash and 70% are on credit.An analysis of credit sales shows that 50% of credit sales are collected in the month following the sale, 45% are collected in the second month, and 5% prove to be uncollectible. Use the following sales budget to calculate the listed items and show your answers.

August September October November

Sales $300,000 $325,000 $335,000 $360,000

Receipts from case sales:

Collections from August credit sales:

Collections from September credit sales:

Collections from October credit sales:

Total cash collections during the month:

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M91395182

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