Crew Clothing (CC) sells women’s resort casual clothing to high-end department s

Question

Crew Clothing (CC) sells women’s resort casual clothing to high-end department stores and in its own retail boutiques. CC expects sales for January, February, and March to be $440,000, $500,000, and $520,000, respectively. Twenty percent of CC’s sales are cash, with the remainder collected evenly over two months. During December, CC’s total sales were $750,000. CC is beginning its budget process and has asked for your help in preparing the cash budget.

Compute CC’s expected cash receipts from customers for each month.

                                       January             February               March

Budgeted Cash receipts

Explanation / Answer

The correct answer is :

Note :

1. Cash Bifercation:

2. Cash Collection :

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