Question: Decision Point: Determining the Cash Collections Budget Now that you have prepared the sales budget, it's important to estimate the timing of when the cash

Decision Point: Determining the Cash Collections Budget Now that you have prepared the sales budget, it's important to estimate the timing of when the cash will be received from the store's sales. 80% of the sales are cash sales, and the remaining 20% of sales are on credit. Of the credit sales, 30% are collected within the same month, and 70% of the credit sales are collected the following month. Sales in September were $36 , 000 . Using the new sales budget, answer the following questions (and round all answers to the nearest dollar): What is the cash collections budget for the month of October? (rounded to the nearest dollar)
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
