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Prepare the cash collections budget from sales

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Reference no: EM132590289

The sales budget for the first quarter as follows:

                      Jan                 Feb                      Mar

Sales             $ 100,000      150,000             50,000

Required:

Question 1: Prepare the Cash Collections Budget from sales if the cash sales are equal 40% of the total sales and the credit sales are equal to 60%, and all credit sales are collected in the next month following the month of sale, and The credit sales for Dec, was equal $ 10,000, 10% uncollectible from the credit sales

Reference no: EM132590289

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