P07-17A - SUTTON POINTERS CORPORATION_Solution

Given Data P07-17A:
SUTTON POINTERS CORPORATION
Expected sales in January                               $240,000
Growth rates for February and March                        5%
Accounts receivable collected:
Month of sale                                                              70%
Month following sale                                                  20%
Second month following sale                                     10%

Required:

a.       Sales Budget

b.      Sales revenue for Quarter

c.       Schedule of Cash Receipts