Solution-Calculate ABC Company budgeted accounts receivable

Calculate ABC Company budgeted accounts receivable at June

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Reference no: EM132595256

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

	Sales for Cash	Sales on Account
January	$27,000	$226,000
February	$33,000	$299,000
March	$21,000	$273,000
April	$24,000	$241,000
May	$38,000	$213,000
June	$19,000	$201,000

On average, 14% of the sales on account are collected in the month of sale, 38% are collected in the month following sale, 43% are collected in the second month following sale, and the remaining 5% is collected three months after the month of sale.

Required -

Part A) Calculate the expected cash collections for April.

Part B) Calculate ABC Company's budgeted accounts receivable at June 30.

Reference no: EM132595256

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Calculate ABC Company budgeted accounts receivable at June

Reference no: EM132595256

Reference no: EM132595256

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