1. WYZ Inc. provided the following information for the 5 months below: April May June...
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Accounting
1. WYZ Inc. provided the following information for the 5 months below: April May June July August Budgeted sales ($) $12,000 $13,000 $14,000 $15,000 $16,000 All sales are on account. Cash collections are estimated as follows: 20% during the month of sale; 30% in the month after the sale; 50% in the second month following the sale. (a). Show the calculation of the amount of cash that WYZ Inc. is expected to receive during June from customers. (10 points) (b). Show the calculation of the amount of accounts receivable that WYZ Inc. has on June 30. (10 points)
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