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In: Accounting

Shown below are the budgeted sales for ABC Company for the next six months: Sales for...

Shown below are the budgeted sales for ABC Company for the next six months:

                   Sales for Cash     Sales on Account 
January               $15,000             $ 70,000
February              $18,000             $ 80,000
March                 $14,000             $160,000
April                 $26,000             $120,000
May                   $18,000             $170,000
June                  $24,000             $105,000

On average, 35% of the sales on account are collected in the month of sale, 40%
are collected in the month following sale, 10% are collected in the second month
following sale, and the remaining 15% is collected three months after the month
of sale.

Calculate the expected cash collections for April.

Solutions

Expert Solution

ekkarill92 answered 1 year ago
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