n Corporation has found that 60% o its sale s in any given month ar...
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n Corporation has found that 60% o its sale s in any given month ar sales, Kerwin Corporation has experienced the folowing colection pattem: credit sales while th romainder aro ca sa s. O th credit November salee r last y ar oro S95 000, while December salos were $120,000. Pro acted sa es or the next thre months aro at f January sales Fobruary sales March sales S 160,000 S 130,000 S 175,000 20% received in the month of the sale 40% received itho month after the sale 25% received two months after the sale 15% of the credit sales are never reccived Requirement Prepare a cash collections budget for the firat quaner, with a column for each month and for the quarter. (Round your answers to the nearest whole dollar.) Kerwin Corporation Cash Collections Budget For the Months of January through March anuary February March Quarter Cash sales Collections on credit sales: 20% Month cfsale 40% Month after 25% Two months after Total cash colloctions
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