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Question - Bridgeport Company has budgeted sales revenue as follows for the next 4 months:
February $285,000
March 245,000
April 225,000
May 340,000
Past experience indicates that 70% of sales each month are on credit. The remainder are cash sales. Collection of credit sales occurs as follows: 60% in the month of sale, 35% in the month following the sale, and 3% in the second month following the sale. The other 2% is uncollectible.
Prepare a schedule which shows expected cash receipts from sales for the month of May.
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macgiver brass is a brass plating firm with sales of 8 million and profits before taxes of 625000. macgiver has a loan
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