Johnson Company has the following sales budget:

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Johnson Company has the following sales budget:

 

Month         Cash Sales            Credit Sales

February          $14,000             $28,000

March            12,800                  29,200

April                    10,800            26,400

 

Collections of credit sales are 40% in the month of sale, 50% in the month after sale and 10% two months after sale.  No uncollectible accounts are expected.

 

 

 

Required:

 

 

Prepare a schedule of cash collections for April.

 

    • 12 years ago
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