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Prepare Cash Receipts Schedule for June, July, and August

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Reference no: EM132533550

Question - Northern Company has the following budgeted sales information for 2021:

April: $450,000

May: $550,000

June: $600,000

July: $620,000

August: $700,000

60% percent of the sales are cash sales, and the remainder are credit sales. Credit sales are collected 50% in the month of sale, 30% in the month following the sale, and 20% in the second month following the sale.

Directions - Prepare Cash Receipts Schedule for June, July, and August.

Reference no: EM132533550

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