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Calculate the cash receipts from customers for the first six

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Reference no: EM132571860

Search Engine Corp. has provided the following details concerning budgeted sales:

Budgeted Sales

Jan           $75,000

Feb            69,000

March         80,000

April           82,000

May           80,500

June             92,000

The collection policy of the company is to collect 20% in the month of sale, 40% in the following month, and remaining 40% in the second month after the month of sale. All sales are made on account.

Question 1: How do calculate the cash receipts from customers for the first six months.

Reference no: EM132571860

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