Solution-Prepare a cash receipts budget for each month

Prepare a cash receipts budget for each month

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Reference no: EM131771453

Exercise

Cash Receipts Budget

Thirst Quencher sells plastic water bottles to outdoor enthusiasts for $1.25 each. The company's marketing manager prepared the following sales forecast (in units) for the first half of the year:

Historically, the cash collection of sales has been as follows: 55 percent of sales collected in month of sale, 35 percent of sales collected in month following sale, and 9 percent of sales collected in second month following sale. The remaining 1 percent is never collected because customers do not pay.

Required:

For the following task, round the per unit answers to the nearest cent, if required.

Prepare a cash receipts budget for each month of the second quarter (April, May, and June).

Reference no: EM131771453

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Prepare a cash receipts budget for each month

Reference no: EM131771453

Reference no: EM131771453

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