Business, 16.04.2020 19:28, flyingcerberus1408

Kerwin Corporation has found that 60% of its sales in any given month are credit sales, while the remainder are cash sales. Of the credit sales, Kerwin Corporation has experienced the following collection pattern: 20% received in the month of the sale 40% received in the month after the sale 25% received two months after the sale 15% of the credit sales are never received November sales for last year were $ 110 comma 000, while December sales were $ 115 comma 000. Projected sales for the next three months are as follows: January sales . . . . . . . . . . . . . . . . $145,000 February sales . . . . . . . . . . . . . . . $125,000 March sales . . . . . . . . . . . . . . . . . $175,000 Requirement Prepare a cash collections budget for the first quarter, with a column for each month and for the quarter. (Round your answers to the nearest whole dollar.) Kerwin Corporation Cash Collections Budget For the Months of January through March January Cash sales 58000 Collections on credit sales: 20% Month of sale 40% Month after 25% Two months after Total cash collections February 50000 March 70000 Quarter

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Kerwin Corporation has found that 60% of its sales in any given month are credit sales, while the re...