28) Wayside Corporation collects 60% of a month's sales in the month of sale, 35% in the month following sale, and 5% in the second month following sale. Budgeted sales for the upcoming four months are: April budgeted sales May budgeted sales June budgeted sales July budgeted sales 80 $110,000 $130,000 $280,000 $200,000 The amount of cash that will be collected in July is budgeted to be .......?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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28) Wayside Corporation collects 60% of a month's sales in the month of sale, 35% in the month following
sale, and 5% in the second month following sale. Budgeted sales for the upcoming four months are:
April budgeted sales
May budgeted sales
June budgeted sales
July budgeted sales
80
$110,000
$130,000
$280,000
$200,000
The amount of cash that will be collected in July is budgeted to be .......?
Transcribed Image Text:28) Wayside Corporation collects 60% of a month's sales in the month of sale, 35% in the month following sale, and 5% in the second month following sale. Budgeted sales for the upcoming four months are: April budgeted sales May budgeted sales June budgeted sales July budgeted sales 80 $110,000 $130,000 $280,000 $200,000 The amount of cash that will be collected in July is budgeted to be .......?
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