Gem Service anticipates the following sales revenue over a five-month period: (Click the icon to...
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Gem Service anticipates the following sales revenue over a five-month period: (Click the icon to view the sales data.) The company's sales are 40% cash and 60% credit. Its collection history indicates that credit sales are collected as follows: (Click the icon to view the collections data.) How much cash will be collected in January? In February? In March? For the quarter in total? Complete the cash budget to determine how much cash will be collected in January, February, March and for the quarter in total. (Round your answers to the nearest whole dollar.) Gem Service Cash Collections Budget For the Months of January through March January Cash sales Collection of credit sales: 20% Month of sale 40% Month after 30% Two months after Total cash collections A More Info - X Data Table - X 20% in the month of the sale 40% in the month after the sale 30% two months after the sale 10% are never collected November Sales revenue ..........$ 16,900 December $ 11,000 January 15,400 February $ 12,000 March 14,800 $ $ Print Done Print Print | Done
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