Bates Corporation has the following sales budget:
Credit sales are 80% of total sales.Collections of credit sales are 80% in the month of sale,15% in the month after sale and 5% are never collected.
Required:
Prepare a schedule of cash collections for June,July and August.

Question

Bates Corporation has the following sales budget:
  Credit sales are 80% of total sales.Collections of credit sales are 80% in the month of sale,15% in the month after sale and 5% are never collected.
Required:
Prepare a schedule of cash collections for June,July and August.

Quizplus · Accepted Answer

The Answer of Bates Corporation has the following sales budget:
  Credit sales are 80% of total sales.Collections of credit sales are 80% in the month of sale,15% in the month after sale and 5% are never collected.
Required:
Prepare a schedule of cash collections for June,July and August.

Bates Corporation Has the Following Sales Budget