shown below are the budgeted sales for ABC Company for the next five months. All sales are made on account. November December January February March Budgeted sales ? ? ? $57,000 $44,000 On average, 18% of the sales are collected in the month of sale, 47% are collected in the month following sale, 23% are collected in the second month following sale, and the remaining 12% is collected three months after the month of sale. ABC Company had budgeted cash collections from customers of $61,852 in February and $54,390 in March. ABC's budgeted accounts receivable at March 31 was $60, 350. calculate ABC Company's budgeted sales in November.

shown below are the budgeted sales for ABC Company for the next five months. All sales are made on account. November December January February March Budgeted sales ? ? ? $57,000 $44,000 On average, 18% of the sales are collected in the month of sale, 47% are collected in the month following sale, 23% are collected in the second month following sale, and the remaining 12% is collected three months after the month of sale. ABC Company had budgeted cash collections from customers of $61,852 in February and $54,390 in March. ABC's budgeted accounts receivable at March 31 was $60, 350. calculate ABC Company's budgeted sales in November.

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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