2. Hank Cookware has the following sales budget for the 1st 2 months of the year:...
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2. Hank Cookware has the following sales budget for the 1st 2 months of the year: Cash Sales Sales on account January $120,000 $340,000 February $170,000 $430,000 It is estimated that Hank will collect 20% of its sales on account in the month of sale and the remaining 80% the following month. What is the amount of budgeted cash collections for February? 2. Hank Cookware has the following sales budget for the 1st 2 months of the year: Cash Sales Sales on account January $120,000 $340,000 February $170,000 $430,000 It is estimated that Hank will collect 20% of its sales on account in the month of sale and the remaining 80% the following month. What is the amount of budgeted cash collections for February?
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