Moses, Inc. prepared the following sales budget: Collections are 40 percent in the month of sale, 50 percent in the month following the sale, and 10 percent two months following the sale. No uncollectible accounts are anticipated.
Required: Prepare a schedule of cash collections for October through December.

Question

Moses, Inc. prepared the following sales budget:  Collections are 40 percent in the month of sale, 50 percent in the month following the sale, and 10 percent two months following the sale. No uncollectible accounts are anticipated.
Required: Prepare a schedule of cash collections for October through December.

Quizplus · Accepted Answer

The Answer of Moses, Inc. prepared the following sales budget:  Collections are 40 percent in the month of sale, 50 percent in the month following the sale, and 10 percent two months following the sale. No uncollectible accounts are anticipated.
Required: Prepare a schedule of cash collections for October through December.