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Cash receipts budget. Kiel Center's sales are all made on account. The firm's collection experience has been that 35% of a month's sales are collected in the month the sale is made, 55% are collected in the month following the sale, and 8% are collected in the second month following the sale. The sales forecast for the months of June through September is:

June $140,000
July $160,000
August $170,000
September $195,000

Required:

Calculate the cash collections that would be included in the cash budgets for August and September.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9410658

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