Business, 14.11.2019 01:31, mathiscool51

Deberg company has the following sales projections for its second and third quarters:

april $100,000
may $120,000
june $140,000
july $160,000
august $150,000
september $130,000

normal cash collection experience has been that 50% of sales are collected during the month of sale, 30% in the month following sale, and 15% in the second month following sale. the remaining 5% of sales is never collected.

prepare the schedule of cash collections for the third quarter, by month and in total.

cash collection schedule

jul.

aug.

sep.

3rd qtr
total planned sales

$

$

$

$

credit sales collected during month

$

credit sales collected one month later

$

credit sales collected two months later

$

$

$

$

$

Answers: 1

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Deberg company has the following sales projections for its second and third quarters:

a...