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Title: Duffy Corporation has prepared the following sales budget:MonthCash SalesCredit ...
Post by: ashly138 on Nov 5, 2017
Duffy Corporation has prepared the following sales budget:

Month   Cash Sales   Credit Sales
May   $16,000   $68,000
June   20,000   80,000
July   18,000   74,000
August   24,000   92,000
September   22,000   76,000

Collections are 40% in the month of sale, 45% in the month following the sale, and 10% two months following the sale. The remaining 5% is expected to be uncollectible.

Required:
Prepare a schedule of cash collections for July through September.


Title: Re: Duffy Corporation has prepared the following sales budget:MonthCash SalesCredit ...
Post by: GarretA on Nov 5, 2017
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