Each unit sells for $250 January 16,000 February March April May June July 13,000 16,000 17,000 18,000 19,000 14,000 Your cash collections are 60% during the month of sale, 22% the next month and 12% two months later, 5% three months later and you never collect 1% Prepare a cash collections budget for April, May and June

Each unit sells for $250 January 16,000 February March April May June July 13,000 16,000 17,000 18,000 19,000 14,000 Your cash collections are 60% during the month of sale, 22% the next month and 12% two months later, 5% three months later and you never collect 1% Prepare a cash collections budget for April, May and June

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Each unit sells for $250 January 16,000 February March April May June July 13,000 16,000 17,000 18,000 19,000 14,000 Your cash collections are 60% during the month of sale, 22% the next month and 12% two months later, 5% three months later and you never collect 1% Prepare a cash collections budget for April, May and June
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