XYZ Company collects payment on 50 percent of credit sales in the month of sale, 40 percent
Question:
XYZ Company collects payment on 50 percent of credit sales in the month of sale, 40 percent in the month following sale, and 5 percent in the second month following the sale. Its sales budget is as follows:
Compute XYZ Company's total cash collections in July and its total cash collections inAugust.
Transcribed Image Text:
Month May June July August Cash Sales e aes S 40,000 60,000 80,000 100,000 $20,000 40,000 60,000 80,000
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July August Cash sales 60000 80...View the full answer
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