Solution-Create a schedule of cash collections for July

Create a schedule of cash collections for July

Reference no: EM132540066

Question - Dubai Trade Corporation has prepared the following 2020 sales budget:

Month	Cash Sales	Credit Sales
May	$16,000	$68,000
June	20,000	80,000
July	18,000	74,000
August	24,000	92,000
September	22,000	76,000

Collections are 40% in the month of sale, 45% in the month following the sale, and 10% two months following the sale. The remaining 5% is expected to be uncollectible. The company also made sure that all outstanding balances owed by customers from November and December 2019 were paid before the end of December 2019

Required - Create a schedule of cash collections for July through September 2020. Please fill in the below table.

Reference no: EM132540066

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Create a schedule of cash collections for July

Reference no: EM132540066

Reference no: EM132540066

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