Getty Company expects sales for the first three months of next year to be $210,000, $260,000 and $285,000, respectively. Getty expects 30 percent of its sales to be cash and the remainder to be credit sales. The credit sales will be collected as follows: 10 percent in the month of the sale and 90 percent in the following month.
Compute a schedule of Getty's cash receipts for the months of February and March.
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February |
March |
| Budgeted Cash Receipts |
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