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Calculation of cash collection and ending accounts receivables

Budgeted sales for the second quarter of the year for Reuben Company are as follows:

Budgeted Sales
April $400,000
May 200,000
June 600,000

The company normally collects 60 percent in the month of sale, 30 percent in the month following the sale and ten percent in the second month following the month of the sale.

Actual sales in February and March were $600,000 and $500,000 respectively.

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Basic Finance, Finance

Category:- Basic Finance
Reference No.:- M9163244

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