ABC Company's budgeted sales for June, July, and August are and units respectively. The selling price for each unit is $ Based on past experience, ABC expects that of a month's sales will be collected in the month of sale, in the following month, and in the second month following the sale.
Required:
Prepare an analysis of cash receipts from sales for ABC Company for August.
tableJune,July,AugustBudgeted sales units,,,Unit selling price,,,Budgeted sales revenue,,,August collections:,,,Current month's sales,,,Prior month's sales,,,Second prior month's sales,,Total collections,,,N
