Samson Corporation has found that 60% of its sales in any given month are credit...
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Samson Corporation has found that 60% of its sales in any given month are credit sales, while the remainder aro cash sales. Of the credit sales, Samson Corporation has experfenced the foltowing collection paittonn Vew the collection pattem. Yew addetionalinformition Requirement Prepare a cash collections budget for the first quarter, with a column for each monith and for the quarter. (Round your answers to the nearest whole dollar) Collection pattern 20% received in the month of the sale 40% received in the month after the sale 25% received two months after the sale. 15% of the credit sales are never recelved Additional information November - sales for last year were $95,000, while December sales were $110,000. Projected sales for the next three months are as follows
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