Jewel Service anticipates the following sales revenue over a five-month period:

The company's sales are 40% cash and 60% credit.

Sales Rev: Nov- $16500 Dec-$11000 Jan-$15400 Feb-$12400 March-$14000

Its collection history indicates that credit sales are collected as follows:

20% in the month of the sale

40% in the month after the sale

35% two months after the sale

5% are never collected

How much cash will be collected in January? In February? In March? For the quarter in total?

Complete the cash budget to determine how much cash will be collected in January, February, March, and for the quarter in total. (Round your answers to the nearest whole dollar.)

Answer rating: 100% (QA)

Step 1 Calculate credit sales for each month November Credit Sales 60 of 16500 9900 December Credit ... View the full answer