The remainder are uncollectible. given these data what, Ask an Expert

Accounting

Budgeted sales in Allen Company over the next four months are given below:

September October November December
Budgeted sales $100,000 $160,000 $180,000 $120,000
Twenty-five percent of the company's sales are for cash and 75% are on account. Collections for sales on account follow a stable pattern as follows: 50% of a month's sales are collected in the month of sale, 30% are collected in the month following sale, and 15% are collected in the second month following sale. The remainder are uncollectible. Given these data, what should be the cash collections for December ?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M970013

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