Question: Manoli Manufacturing has been accumulating operating data to prepare an annual profit plan. Details regarding Manoli's sales for the first six months of the coming
Manoli Manufacturing has been accumulating operating data to prepare an annual profit plan. Details regarding Manoli's sales for the first six months of the coming year are as follows: Type of Monthly Sale Cash sales 20% Estimated Monthly Sales January $800,000 February $720,000 March $625.000 April $600,000 May $650,000 June $700,000 Credit sales 80% 30% 40% Collection Pattern for Credit Sales Month of sale One month following sale Second month following sale Uncollectible 25% 5% Manoli's total cash receipts for the month of April will be: $636,000 o $728,000 O $608,000
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