FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Transcribed Image Text:$173,400.
$155,900.
$171,666.
$167,000.
Transcribed Image Text:Orion Corporation is preparing a cash budget for the six months beginning January 1. Shown below are the company's expected collection pattern and the
budgeted sales for the period:
Expected collection pattern:
65% collected in the month of sale
20% collected in the month after sale
10% collected in the second month after sale
4% collected in the third month after sale
1% uncollectible
Budgeted Sales:
January
February
March
$160,000
185,000
190, 000
170, e00
200,000
180,000
April
May
June
What would be the estimated total cash collections during April from sales and accounts receivables?
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