Q3 (20%) Finmin Company has the following sales budget for the last six months of 2015:...

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Q3 (20%) Finmin Company has the following sales budget for the last six months of 2015: $200,000 160,000 September 200,000 July August October November December $180,000 200,000 180,000 Sales are immediately due, however the cash collection of sales, historically, has been as follows: 65% of sales collected in the month of sale, 33% of sales collected in the month following the sale, 8% of sales collected in the second month following the sale, and Instructions:. a) Prepare a Cash collections schedule for September are b) What is the ending balance of accounts receivable for the end of September Q3 (20%) Finmin Company has the following sales budget for the last six months of 2015: $200,000 160,000 September 200,000 July August October November December $180,000 200,000 180,000 Sales are immediately due, however the cash collection of sales, historically, has been as follows: 65% of sales collected in the month of sale, 33% of sales collected in the month following the sale, 8% of sales collected in the second month following the sale, and Instructions:. a) Prepare a Cash collections schedule for September are b) What is the ending balance of accounts receivable for the end of September

Answer rating: 100% (QA)

a Cash Collections Schedule for September Month Sales Percen... View the full answer