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How estimate cash receipts for each month of first quarter

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Reference no: EM132713873

The Walla Walla Antique Mall budgeted credit sales in the first quarter of 2018 to be as follows:

January $133,000

February 141,000

March 151,000

Credit sales in December 2017 are expected to be $183,000. The company expects to collect 84 percent of a month's sales in the month of sale and 16 percent in the following month.

Problem 1: Estimate cash receipts for each month of the first quarter of 2018.

Reference no: EM132713873

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