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Justin Company's budget includes the following credit sales for the current year: September, $32, 000: October. $43, 000: November. $37, 000: December, $39, 000. Experience has shown that payment for the credit sales is received as follows: 20% in the month of sale, 55% in the first month after sale, 22% in the second month after sale, and 3% is uncollectible. How much cash can Justin Company expect to collect in November as a result of current and past credit sales?

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Accounting Basics, Accounting

Category:- Accounting Basics
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