Cookies and Cream expects cash to be collected in the following manner: 55 perce

Question

Cookies and Cream expects cash to be collected in the following manner:
55 percent of sales collected in month of sale
35 percent of sales collected in month following sale
10 percent of sales collected in second month following sale

Required:

For the following task, round your answers to two decimal places, if required.

Prepare a cash receipts budget for the first quarter. If an amount is zero, enter "0".

How much will customers owe the company at the end of March if sales are exactly as estimated?

Cookies and Cream
Cash Receipts Budget Sales January February March March 31 balance Jan. $ $ $ $ $ Feb. --- Mar. --- --- Total cash receipts from sales $ $ $ $

Explanation / Answer

The above solution is perfectly allright

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