X-Tel budgets sales of $44,000 for April, $84,000 for May, and $60,000 for June. Sales are 50% cash and 50% on credit. All credit sales are collected in the month following the sale. Total sales for March were $14,000. Prepare a schedule of cash receipts from sales for April, May, and June. Complete empty tables. April May June Sales $44,000 $84,000 $60,000 Cash Receipts from: Collections of prior period sales Cash Sales Total Cash Receipts $ $ $
X-Tel budgets sales of $44,000 for April, $84,000 for May, and $60,000 for June. Sales are 50% cash and 50% on credit. All credit sales are collected in the month following the sale. Total sales for March were $14,000. Prepare a schedule of cash receipts from sales for April, May, and June. Complete empty tables. April May June Sales $44,000 $84,000 $60,000 Cash Receipts from: Collections of prior period sales Cash Sales Total Cash Receipts $ $ $
Chapter7: Budgeting
Section: Chapter Questions
Problem 14EB: Earthies Shoes has 55% of its sales in cash and the remainder on credit. Of the credit sales, 70% is...
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X-Tel budgets sales of $44,000 for April, $84,000 for May, and $60,000 for June.
Sales are 50% cash and 50% on credit. All credit sales are collected in the month following the sale. Total sales for March were $14,000. Prepare a schedule of cash receipts from sales for April, May, and June. Complete empty tables.
| April | May | June | |
| Sales | $44,000 | $84,000 | $60,000 |
| Cash Receipts from: | |||
| Collections of prior period sales | |||
| Cash Sales | |||
| Total Cash Receipts | $ | $ | $ |
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