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Emily Company has sales on account and sales for cash. Specifically, 60 percent of its sales are on account and 40 percent are for cash. Credit sales are collected in full in the month following the sale. The company forecasts sales of $525,000 for April, $535,000 for May, and $560,000 for June. The starting balance of Accounts Receivable on April 1 is $300,000.

Make a schedule of budgeted cash receipts for April, May and June.

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M921035

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