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Getty Company expects sales for the first three months of next year to be $205,000,...

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Accounting

Getty Company expects sales for the first three months of next year to be $205,000, $255,000 and $280,000, respectively. Getty expects 20 percent of its sales to be cash and the remainder to be credit sales. The credit sales will be collected as follows: 10 percent in the month of the sale and 90 percent in the following month. Compute a schedule of Gettys cash receipts for the months of February and March. image

February March Budgeted Cash Receipts

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