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Estimate cash receipts for each month of the first quarter

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Reference no: EM132844072

The Beca Antique Mall budgeted credit sales in the first quarter of 2021 to be as follows:

January $201,600

February 214,200

March 228,400

  • Credit sales in December 2020 are expected to be $252,000. The company expects to collect 70 percent of a month's sales in the month of sale and 30 percent in the following month.

Problem 1: Estimate cash receipts for each month of the first quarter of 2021.

Reference no: EM132844072

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