Sunshine Furniture Store collects 30% of its sales on account in the month of the sale and 70% in the month following the sale. If sales on account are budgeted to be $45,000 for June and $60,000 for July, what are the budgeted cash receipts from sales on account for July?

Sunshine Furniture Store collects 30% of its sales on account in the month of the sale and 70% in the month following the sale. If sales on account are budgeted to be $45,000 for June and $60,000 for July, what are the budgeted cash receipts from sales on account for July?

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter8: Budgeting For Planning And Control

Section: Chapter Questions

Problem 34E: A companys sales for the coming months are as follows: About 20 percent of sales are cash sales, and...

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Sunshine furniture store collects solve this general accounting question

Sunshine Furniture Store collects 30% of its sales on account
in the month of the sale and 70% in the month following the
sale. If sales on account are budgeted to be $45,000 for June
and $60,000 for July, what are the budgeted cash receipts
from sales on account for July?

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