The following credit sales are budgeted by Crane Electronics: January February March April May $123000 119000...
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The following credit sales are budgeted by Crane Electronics: January February March April May $123000 119000 134000 139000 141000 The company's past experience indicates that 45% of the accounts receivable are collected in the month of sale, 25% in the month following the sale, and 29% in the second month following the sale. 1 percent are uncollectible. How much does the company anticipate as cash receipts for March? The following credit sales are budgeted by Crane Electronics: January February March April May $123000 119000 134000 139000 141000 The company's past experience indicates that 45% of the accounts receivable are collected in the month of sale, 25% in the month following the sale, and 29% in the second month following the sale. 1 percent are uncollectible. How much does the company anticipate as cash receipts for March?
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To calculate the cash receipts for March we need to determine the portion of credit sales from diffe... View the full answer
Related Book For
Managerial Accounting Creating Value in a Dynamic Business Environment
ISBN: 978-1259569562
11th edition
Authors: Ronald W. Hilton
Posted Date:
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