Q8- Sebring Company has the following data: Month Budgeted Sales $40,000 44,000 50,000 52,000 48,000 April May June July August The cost of goods sold percentage is 70% of sales and the desired endi inventory level is 25% of next month's sales at cost. heginni was the

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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Q8
Historically, the cash collection of sales has been as follows:
65% of sales collected in month of sale
25% of sales collected in month following sale
8% of sales collected in second month following sale
2% of sales uncollectible
What are the expected cash collections of sales in October?
Q8- Sebring Company has the following data:
Month
Budgeted Sales
$40,000
44,000
50,000
52,000
48,000
April
May
June
July
August
The cost of goods sold percentage is 70% of sales and the desired ending
inventory level is 25% of next month's sales at cost.
beginning inventory on May 1.
was the
Transcribed Image Text:Historically, the cash collection of sales has been as follows: 65% of sales collected in month of sale 25% of sales collected in month following sale 8% of sales collected in second month following sale 2% of sales uncollectible What are the expected cash collections of sales in October? Q8- Sebring Company has the following data: Month Budgeted Sales $40,000 44,000 50,000 52,000 48,000 April May June July August The cost of goods sold percentage is 70% of sales and the desired ending inventory level is 25% of next month's sales at cost. beginning inventory on May 1. was the
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