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A month's sales are collected in the month the sale is made, 47 % are collected...

Question

A month's sales are collected in the month the sale is made, 47 % are collected...

a months sales are collected in the month the sale is made, 47 % are collected in the month following Fox Trail Centers sal

a month's sales are collected in the month the sale is made, 47 % are collected in the month following Fox Trail Center's sales are all made on account The firm's collection experience has been that 30 % sale. The sales forecast for the months of May through August is as follows: a sale, and 21% are collected in the second month following the May S245.000 288,000 Jund 366 000 August Req the cash collections that would be included in the cash budgets for July and August Cash collections August

Answers

July August
Credit Sales of May:
Collected in July (21%) 51450
Credit Sales of June:
Collected in July (47%) 135360
Collected in August (21%) 60480
Credit sales of July:
Collected in July (30%) 92400
Collected in August (47%) 144760
Credit sales of August :
Collected in August (30%) 109800
Total 279210 315040
Cash collections
July 279210
August 315040


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