Problem 2-The Budget |
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Part 1-Cash Budget |
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97% of sales are credit sales. Accounts Receivable are collected at 35% of sales |
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the month of sale, 40% the following month, and 25% the third month. |
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Sales for January: |
$475,000 |
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Sales for February: |
525,000 |
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Sales for March |
532,000 |
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Sales for April |
516,000 |
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Prepare cash collections for March and April |
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From sales in |
Total |
% Collected |
March |
April |
January |
February |
March |
April |
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Total Collected |
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admin2023-12-01 22:03:022023-12-01 21:59:23problem #1 of 6