Sunset centers sales are all made on account compute the, Accounting Basics

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Sunset centers sales are all made on account compute the

Problem

Sunset Center's sales are all made on account. The firm's collection experience has been that 25 percent of a month's sales are collected in the month of sale, 65 percent are collected in the month following the sale, and 8 percent are collected in the second month following the sale. The sales forecast for the months of May through August is:

May $240,000
June $280,000
July $300,000
August $350,000

Calculate the cash collections that would be included in the cash budgets for July and August.

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Accounting Basics: Sunset centers sales are all made on account compute the

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Accounting Basics: Sunset centers sales are all made on account compute the

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