Aramar Company has the following sales budget: Month Cash Sales Credit Sales February $24,000 $48,000 March 18,800 29,200 April 10,800 28,400 Collections of credit sales are...
k.blehAramar Company has the following sales budget:
Month Cash Sales Credit Sales
February $24,000 $48,000
March 18,800 29,200
April 10,800 28,400
Collections of credit sales are 35% in the month of sale, 30% in the month after sale and 33% two months after sale. No uncollectible accounts are expected.
Required:
Prepare a schedule of cash collections for the three months.
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