000. Futura Company cash collections from customers has the following pattern: Collected within cash discount period in month of sale Collected within cash discount period in first month after month of sale 10 Collected after cash discount period in first month after month of sale 25 Collected after cash discount period in second month after month of sale 12 50% Never collected Total sales in any month (before cash discounts) Cash discount allowable as a percentage of invoice price 100% d1% ona Instructions: Compute the total cash budgeted to be collected in March if sales are predice P300,000 for January, P400,000 for February, and P500,000 for March.

000. Futura Company cash collections from customers has the following pattern: Collected within cash discount period in month of sale Collected within cash discount period in first month after month of sale 10 Collected after cash discount period in first month after month of sale 25 Collected after cash discount period in second month after month of sale 12 50% Never collected Total sales in any month (before cash discounts) Cash discount allowable as a percentage of invoice price 100% d1% ona Instructions: Compute the total cash budgeted to be collected in March if sales are predice P300,000 for January, P400,000 for February, and P500,000 for March.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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