Llotal sales B. Rudd Company has budgeted sales revenue as follows for the next 4...
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Accounting
Llotal sales B. Rudd Company has budgeted sales revenue as follows for the next 4 months: February $300,000 March 240,000 April 210,000 May 330,000 Past experience indicates that collection of sales occurs as follows: 60% in the month of sale, 38% in month following the sale, and the other 2% is uncollectible. Instructions: Prepare a schedule which shows expected cash receipts from sales for the months Mai through May with appropriate schedule headings. RUDD COMPANY Collections April Credit Sales March May February March April May Total
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