Valentine Company's actual sales for January through March,and budgeted sales for April through June of the current year are as follows:
10% of sales are cash and the rest are credit sales.Management estimates that 20% of credit sales will be collected in the month of sale,78% will be collected in the month following the sale,and the balance will not be collected.Prepare a cash receipts schedule for Valentine Company for the period April through June.

Question

Valentine Company's actual sales for January through March,and budgeted sales for April through June of the current year are as follows:
  10% of sales are cash and the rest are credit sales.Management estimates that 20% of credit sales will be collected in the month of sale,78% will be collected in the month following the sale,and the balance will not be collected.Prepare a cash receipts schedule for Valentine Company for the period April through June.

Quizplus · Accepted Answer

The Answer of Valentine Company's actual sales for January through March,and budgeted sales for April through June of the current year are as follows:
  10% of sales are cash and the rest are credit sales.Management estimates that 20% of credit sales will be collected in the month of sale,78% will be collected in the month following the sale,and the balance will not be collected.Prepare a cash receipts schedule for Valentine Company for the period April through June.

Valentine Company's Actual Sales for January Through March,and Budgeted Sales