Solution-Prepare a schedule of expected collections from

Prepare a schedule of expected collections from customers

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Reference no: EM133087960

Question - Sunland Company's budgeted sales and direct materials purchases are as follows:

	Budgeted Sales	Budgeted Direct Materials Purchases
January	$195,000	$32,000
February	219,000	33,000
March	305,000	49,000

Sunland's sales are 40% cash and 60% credit. It collects credit sales 10% in the month of sale, 50% in the month following sale, and 36% in the second month following sale; 4% are uncollectible. Sunland's purchases are 50% cash and 50% on account. It pays purchases on account 60% in the month of purchase, and 40% in the month following purchase.

Required -

1. Prepare a schedule of expected collections from customers for March.

2. Prepare a schedule of expected payments for direct materials for March.

Reference no: EM133087960

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Prepare a schedule of expected collections from customers

Reference no: EM133087960

Reference no: EM133087960

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