Question: The Warrenburg Antique Mall budgeted credit sales in the first

The Warrenburg Antique Mall budgeted credit sales in the first quarter of 2012 to be as follows:
January ....... $160,000
February ........ 170,000
March ........ 182,000
Credit sales in December 2011 are expected to be $220,000. The company expects to collect 80 percent of a month’s sales in the month of sale and 20 percent in the following month.

Required
Estimate cash receipts for each month of the first quarter of 2012.


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  • CreatedSeptember 23, 2013
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