Kraft budgeted sales are $10,000 per month and let's assume the sales stay the same every month.
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Q2: Sporting Life expects to have sales of $30,000 in April, $35,000 in May, and $40,000 in June. 30% of the company's sales are paid by cash and the rest are paid on credit. Of the credit sales, 40% of the credit sales is paid in the month following the sale and the other 60% are paid 2 months following the sale, what are the cash receipts for the firm in July?
Related Book For
Financial Management for Public Health and Not for Profit Organizations
ISBN: 978-0132805667
4th edition
Authors: Steven A. Finkler, Thad Calabrese
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