The Cash Sales for the next three months (January to March) been estimated as $ 40,000, $ 50,000, and $ 60,000 respectively. The company credit policies state that 50% of credit sales would be collected in the same month and the remaining in the second month of sales. What are the total cash sales for the first quarter of next year to be reported in Cash budget?

The Cash Sales for the next three months (January to March) been estimated as $ 40,000, $ 50,000, and $ 60,000 respectively. The company credit policies state that 50% of credit sales would be collected in the same month and the remaining in the second month of sales. What are the total cash sales for the first quarter of next year to be reported in Cash budget?

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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What is the budgeted cash receipts value from customers during the year?
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