Business, 06.05.2020 02:37, TheSillyMichael1566

Oakton Furniture provided the following information relevant to its sales for December Year 1 and the first quarter of Year 2: Dec. Year 1 Jan. Year 2 Feb. Year 2 Mar. Year 2 (Actual) (Budgeted) (Budgeted) (Budgeted) Credit sales $ 66,000 $ 146,000 $ 161,000 $ 116,000 Cash sales $ 16,000 $ 31,000 $ 36,000 $ 18,000 Based on the company's collection history, 42% of credit sales are collected in month of sale and the remainder is collected in the following month. Cash collections in January from December credit sales would be:

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Oakton Furniture provided the following information relevant to its sales for December Year 1 and th...