Feeney Furniture prepared the following sales budget: Credit collections are 15% two months following the sale, 50% in the month following the sale, and 30% in the month of sale. The remaining 5% is expected to be uncollectible.
What are the total cash collections in June?

Question

Feeney Furniture prepared the following sales budget:  Credit collections are 15% two months following the sale, 50% in the month following the sale, and 30% in the month of sale. The remaining 5% is expected to be uncollectible.
What are the total cash collections in June?

Quizplus · Accepted Answer

The Answer of Feeney Furniture prepared the following sales budget:  Credit collections are 15% two months following the sale, 50% in the month following the sale, and 30% in the month of sale. The remaining 5% is expected to be uncollectible.
What are the total cash collections in June?

Feeney Furniture Prepared the Following Sales Budget: Credit Collections