The budgeted sales for the next four quarters are £192,000; £180,000; £288,000 and £336,000. It is estimated that sales will be paid for as follows: 60% of the total will be paid in the quarter that the sales is made. Of the balance, half will be paid in the quarter after the sale was made. The remaining half will be paid in the quarter after this.

b)Calculate the amount of cash received in quarter 3.

Answer rating: 100% (QA)

ANSWER IS To calculate the cash received in quarter 3 we need to first determine the amount of sales ... View the full answer