Question

Budgeted sales for the first quarter of the year for the Delta Company are as follows:
Budgeted Sales
January ........ $400,000
February ....... 200,000
March ......... 600,000
1. The Company normally collects 60% in the month of sale and 30% in the month following the sale. Ten percent of all sales are uncollectible and are written off in the following month.
2. The balance in accounts receivable at January 1 was $100,000, which represents 40% of December sales.


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  • CreatedSeptember 19, 2013
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