Gallonte Inc. began operations in April of this year. It makes all sales on account, subject to the following collection pattern: 25% are collected in the month of sale; 55% are collected in the first month after sale; and 20% are collected in the second month after sale. If sales for April, May, and June were $57,000, $77,000, and $67,000, respectively, what were the firm's budgeted collections for June?
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Home » Business » Gallonte Inc. began operations in April of this year. It makes all sales on account, subject to the following collection pattern: 25% are collected in the month of sale; 55% are collected in the first month after sale;