Ask Question
21 June, 23:15

The ABC Corporation makes collections on sales according to the following schedule:

50% in month of sale

47% in month following sale

3% in second month following sale

The following sales have been budgeted:

Sales

April $ 200,000

May $ 170,000

June $ 160,000

Budgeted cash collections in June would be:

+2
Answers (1)
  1. 22 June, 01:31
    0
    Instructions are below.

    Explanation:

    Giving the following information:

    Cash collections:

    50% in the month of sale

    47% in the month following sale

    3% in the second month following sale

    The following sales have been budgeted:

    April $ 200,000

    May $ 170,000

    June $ 160,000

    Cash collection for June:

    From April = 200,000*0.03 = 6,000

    From May = 170,000*0.47 = 79,900

    From June = 160,000*0.5 = 80,000

    Total = $165,900
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “The ABC Corporation makes collections on sales according to the following schedule: 50% in month of sale 47% in month following sale 3% in ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers