Emerald Service anticipates the following sales revenue ts collection history in

Question

Emerald Service anticipates the following sales revenue ts collection history indicates that credit sales are over a five-month period: (Click the icon to view the sales data.) The company's sales are 20% cash and 80% credit. collected as follows: 1 (Click the icon to view the collections data.) How much cash will be collected in January? In February? In March? For the quarter in total? Complete the cash budget to determine how much cash will be collected in January, February, March and for the quarter in total. (Round your answers to the nearest whole dollar.) Emerald Service Cash Collections Budget For the Months of January through March January Cash sales Collection of credit sales: 25% Month of sale 50% Month after 20% Two months after Total cash collections

Explanation / Answer

January February March Quarter Cash sales 3120 2600 2960 8680 Credit sales: 25% month of sale 3120 2600 2960 8680 50% month after 4480 6240 5200 15920 20% two months after 2640 1792 2496 6928 Total cash collections 13360 13232 13616 40208

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