The BRS Corporation makes collections on sales according to the following schedule: 20% in month of sale 71% in month following sale 9% in second month following sale The following sales have been budgeted: Sales

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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8
The BRS Corporation makes collections on sales according to the following schedule:
20% in month of sale
71% in month following sale
9% in second month following sale
The following sales have been budgeted:
Sales
$110,000
$130,000
$120,000
April
May
June
Budgeted cash collections in June would be:
Multiple Choice
$120,990
$120,000
$126.200
$116,300
Transcribed Image Text:The BRS Corporation makes collections on sales according to the following schedule: 20% in month of sale 71% in month following sale 9% in second month following sale The following sales have been budgeted: Sales $110,000 $130,000 $120,000 April May June Budgeted cash collections in June would be: Multiple Choice $120,990 $120,000 $126.200 $116,300
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