The Sport Company is preparing a cash budget for the month of July.The following information on accounts receivable collections is available from Sport's past collection experience: The remaining 4% are not collected and are written off as bad debts.Credit sales to date are as follows: What are the estimated collections in July?

Question

The Sport Company is preparing a cash budget for the month of July.The following information on accounts receivable collections is available from Sport's past collection experience:  The remaining 4% are not collected and are written off as bad debts.Credit sales to date are as follows:  What are the estimated collections in July?

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The Answer of The Sport Company is preparing a cash budget for the month of July.The following information on accounts receivable collections is available from Sport's past collection experience:  The remaining 4% are not collected and are written off as bad debts.Credit sales to date are as follows:  What are the estimated collections in July?

The Sport Company Is Preparing a Cash Budget for the Month