omework (required) Anderson Corporation has found that 80% of its sales in any given month are credit sales, while the remainder are cash sales. Of the credit sales, Anderson Corporation has experienced the following collection pattern: 25% received in the month of the sale 50% received in the month after the sale 18% received two months after the sale 7% of the credit sales are never received Cash sales Collections on credit sales: 25% Month of sale 50% Month after 18% Two months after Total cash collections Anderson Corporation Cash Collections Budget For the Months of January through March January February $ $ 33,000 Part 2 of 4 33,000 50,000 12,960 128,960 Points: 0.2 of 2 January sales.. February sales March sales. November sales for last year were $90,000, while December sales were $125,000. Projected sales for the next three months are as follows: Save $ 165,000 $ 130,000 $ 200,000 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.)
omework (required) Anderson Corporation has found that 80% of its sales in any given month are credit sales, while the remainder are cash sales. Of the credit sales, Anderson Corporation has experienced the following collection pattern: 25% received in the month of the sale 50% received in the month after the sale 18% received two months after the sale 7% of the credit sales are never received Cash sales Collections on credit sales: 25% Month of sale 50% Month after 18% Two months after Total cash collections Anderson Corporation Cash Collections Budget For the Months of January through March January February $ $ 33,000 Part 2 of 4 33,000 50,000 12,960 128,960 Points: 0.2 of 2 January sales.. February sales March sales. November sales for last year were $90,000, while December sales were $125,000. Projected sales for the next three months are as follows: Save $ 165,000 $ 130,000 $ 200,000 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.)
Intermediate Financial Management (MindTap Course List)
13th Edition
ISBN:9781337395083
Author:Eugene F. Brigham, Phillip R. Daves
Publisher:Eugene F. Brigham, Phillip R. Daves
Chapter21: Supply Chains And Working Capital Management
Section: Chapter Questions
Problem 9P: Grunewald Industries sells on terms of 2/10, net 40. Gross sales last year were 4,562,500 and...
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![omework (required)
Anderson Corporation has found that 80% of its sales in any given month are credit sales, while the remainder are
cash sales. Of the credit sales, Anderson Corporation has experienced the following collection pattern:
25% received in the month of the sale
50% received in the month after the sale
18% received two months after the sale
7% of the credit sales are never received
Cash sales
Collections on credit sales:
25% Month of sale
50% Month after
18% Two months after
Total cash collections
Anderson Corporation
Cash Collections Budget
For the Months of January through March
January
February
$
$
33,000
Part 2 of 4
33,000
50,000
12,960
128,960
Points: 0.2 of 2
January sales..
February sales
March sales.
November sales for last year were $90,000, while December sales were $125,000. Projected sales for the next
three months are as follows:
Save
$ 165,000
$ 130,000
$
200,000
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.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa7d9b8d6-7d81-49b3-bd5b-ee3eb7f1493a%2Fcf0ce1e5-6780-4905-9779-f476ee3392e8%2Fmtpezum_processed.jpeg&w=3840&q=75)
Transcribed Image Text:omework (required)
Anderson Corporation has found that 80% of its sales in any given month are credit sales, while the remainder are
cash sales. Of the credit sales, Anderson Corporation has experienced the following collection pattern:
25% received in the month of the sale
50% received in the month after the sale
18% received two months after the sale
7% of the credit sales are never received
Cash sales
Collections on credit sales:
25% Month of sale
50% Month after
18% Two months after
Total cash collections
Anderson Corporation
Cash Collections Budget
For the Months of January through March
January
February
$
$
33,000
Part 2 of 4
33,000
50,000
12,960
128,960
Points: 0.2 of 2
January sales..
February sales
March sales.
November sales for last year were $90,000, while December sales were $125,000. Projected sales for the next
three months are as follows:
Save
$ 165,000
$ 130,000
$
200,000
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.)
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