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ashly138 ashly138
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6 years ago
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.
Textbook 
Cost Accounting: A Managerial Emphasis, Canadian Edition

Cost Accounting: A Managerial Emphasis, Canadian Edition


Edition: 7th
Authors:
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GarretAGarretA
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6 years ago
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Without mathematics, there's nothing you can do. Everything around you is mathematics. Everything around you is numbers.

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ashly138 Author
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6 years ago
You make an excellent tutor!
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