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.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
![7.8
Futura Company cash collections from customers has the following pattern:
Collected within cash discount period in month of sale
50%
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
Collected after cash discount period in second month after month of sale 12
bolugbud er0s_3
100%
Ynde 1%
25
Never collected
Total sales in any month (before cash discounts)
Cash discount allowable as a percentage of invoice price
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.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F64d5f73a-07fb-4a35-9c20-1bb7b1baa19c%2Fc3bef08b-29b0-476f-9cb6-e5f2636b6ed8%2Fpr793vp_processed.png&w=3840&q=75)
Transcribed Image Text:7.8
Futura Company cash collections from customers has the following pattern:
Collected within cash discount period in month of sale
50%
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
Collected after cash discount period in second month after month of sale 12
bolugbud er0s_3
100%
Ynde 1%
25
Never collected
Total sales in any month (before cash discounts)
Cash discount allowable as a percentage of invoice price
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.
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