Solution-Determine the estimated cash collected

Determine the estimated cash collected

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Reference no: EM133053206

Question - Budgeting Cash Collections - Spencer Consulting, which invoices its clients on terms 2/10, n/30, had credit sales for May and June of $126,000 and $144,000, respectively. Analysis of Spencer's operations indicates that the pattern of customers' payments on account is as follows (percentages are of total monthly credit sales):

	Receiving Discount	Beyond Discount Period	Totals
In month of sale	50%	20%	70%
In month of following sale	15%	10%	25%
Uncollectible accounts, returns, and allowances			5%
			100%

Required - Determine the estimated cash collected on customers' accounts in June.

Reference no: EM133053206

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Determine the estimated cash collected : Spencer Consulting which invoices its clients on terms 2/10, n/30, had credit sales for May & June of $126,000 and $144,000, Determine estimated cash collected

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Determine the estimated cash collected

Reference no: EM133053206

Reference no: EM133053206

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