Solution-Estimate cash receipts for each month of the first

Estimate cash receipts for each month of the first quarter

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Reference no: EM133017137

Question - The Page Antique Mall budgeted credit sales in the first quarter of 2021 to be as follows:

January $185,600

February 197,200

March 210,400

Credit sales in December 2020 are expected to be $232,000. The company expects to collect 70 percent of a month's sales in the month of sale and 30 percent in the following month.

Required - Estimate cash receipts for each month of the first quarter of 2021.

Reference no: EM133017137

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Estimate cash receipts for each month of the first quarter

Reference no: EM133017137

Reference no: EM133017137

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