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Prepare a schedule of cash receipts from sales

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Question - Wells Company reports the following budgeted sales: September, $62,000; October, $67,000; and November, $75,000. All sales are on credit, and 5% of those credit sales are budgeted as uncollectible. Collection of the remaining 95% of credit sales are budgeted as follows: 60% in the first month after sale and 35% in the second month after sale. Prepare a schedule of cash receipts from sales for November.

Reference no: EM133182711

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