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Gammaro Corporation has found that 70% of its sales November sales for last year were...

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Accounting

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Gammaro Corporation has found that 70% of its sales November sales for last year were $80,000, in any given month are credit sales, while the while December sales were $110,000. remainder are cash sales. Of the credit sales, Projected sales for the next three months are Gammaro Corporation has experienced the following collection pattern: as follows: 20% received in the month of the sale 40% received in the month after the sale 22% received two months after the sale 18% of the credit sales are never received Kequirement Prepare a cash collections budget for the first quarter, with a column for each month and for the quarter. (Round your answers to the nearest whole dollar.) Gammaro Corporation Cash Collections Budget For the Months of January through March Cash sales Collections on credit sales: 20% Month of sale 40% Month after 22% Two months after Total cash collections

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