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Prepare a schedule of budgeted cash collections

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Reference no: EM131747487

Band Instruments Company has the following sales budget for the first three months of the current year:

Month

Sales Revenue

January

$600,000

February

150,000

March

440,000

Historically, the following trend has been established regarding cash collection of sales:

65 percent in month of sale

25 percent in month following sale

  8 percent in second month following sale

  2 percent uncollectible

  November and December sales were $100,000 and $200,000, respectively.

Required:  Prepare a schedule of budgeted cash collections from sales for January, February, and March.

Reference no: EM131747487

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