Assume Georgio’s has the following budgeted sales for the quarter:

Determine Georgio’s budget for March cash collections assuming credit sales are collected as follows: 90% is collected the month after sale, 8% is collected two months after the month of sale, and 2% is never collected.

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COD sales Credit sales Total sales January $ 10,000 100,000 $110,000 February $ 20,000 March $ 15,000 120,000 110,000 $130,000 $135,000