For requirement 2 use data of COMFY PILLOWS. Disregard the fact it says fluffy pillows...
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For requirement 2 use data of COMFY PILLOWS. Disregard the fact it says fluffy pillows
%) 9endsum2 (similar to) Question Help The following information was taken from the Comfy Pillows direct materials budget Comfy Pillows makes decorative throw pillows for home use. The following information was taken from the Comly Pillows sales budget: (Click the icon to view information from the direct materials budget.) (Click the icon to view the first quarter sales budget.) Read the requirements Assume the following additional information was gathered about the types of sales made in the fourth quarter (October through December) of the previous year: (Click the icon to view the fourth quarter sales budget.) Requirement 1. Prepare the cash collections budget for January, February, and March, as well as the summary for the first quarter. Comfy Pillows Cash Collections Budget For the Quarter Ended March 31 January February March 1st Quarter Cash sales Collections on credit sales 75% of credit sales made last month 15% of credit sales made two months ago 8% of credit sales made three months ago Total cash collections
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