The company has the following information available for the preparation of the budget for the second quarter of 2023 (April-June): April Sales forecast in dollars 244455 May 268901 June 293346 July August September October 317792 354460 391128 427796 The company collects 60% of its sales during the month of the sale, 30% the following month, and 10% two months after the month of the sale. The selling price of the product is $5.60 per unit. REQUIRED: Determine the cash collected in the April to June quarter. Do not use dollar symbols, commas, or decimals. Answer:

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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The company has the following information available for the preparation of the budget for the second quarter of 2023
(April-June):
April
Sales forecast in dollars 244455
May
268901
June
293346
July
August September October
317792 354460
391128
427796
The company collects 60% of its sales during the month of the sale, 30% the following month, and 10% two months after
the month of the sale. The selling price of the product is $5.60 per unit.
REQUIRED: Determine the cash collected in the April to June quarter. Do not use dollar symbols, commas, or decimals.
Answer:
Transcribed Image Text:The company has the following information available for the preparation of the budget for the second quarter of 2023 (April-June): April Sales forecast in dollars 244455 May 268901 June 293346 July August September October 317792 354460 391128 427796 The company collects 60% of its sales during the month of the sale, 30% the following month, and 10% two months after the month of the sale. The selling price of the product is $5.60 per unit. REQUIRED: Determine the cash collected in the April to June quarter. Do not use dollar symbols, commas, or decimals. Answer:
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