Copper corporation has the following sales budget for the, Ask an Expert

Accounting

Copper Corporation has the following sales budget for the last six months of 2007:

July $200,000 October $180,000
August 160,000 November 200,000
September 220,000 December 188,000
Historically, the cash collection of sales has been as follows:
65 percent of sales collected in month of sale,
25 percent of sales collected in month following sale,
8 percent of sales collected in second month following sale, and
2 percent of sales is uncollectible.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91036929

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