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What would the cash collection schedule for second quarter

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Reference no: EM133157766

Question - Eastern Auto Parts Inc. has forecasted the following sales for the 2nd Quarter of 2022.

April $250,000

May $300,000

June $400,000

Past results indicate that 20% of sales are cash and 80% on account. Credit sales are collected as follows: 25% in the month of sale, 60% in the month following the sale, and the balance during the month after.

February and March credit sales were $200,000 and $300,000 respectively.

What would the Cash Collection schedule for the 2nd quarter of 2022 look like in full detail?

Reference no: EM133157766

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