Emerson Cash budget The management at Emerson Manufacturing Company is studying the cash inflow pattern...
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Emerson Cash budget The management at Emerson Manufacturing Company is studying the cash inflow pattern in preparation for its cash budget. The following information is available. 40% Cash collected from current month's sales Cash collected from last month's sales Cash discount taken Uncollectible sales 55% 2% 3% 100% For the second quarter of next year, the beginning balance of accounts receivable ($23,000) is expected to be collected in full in April. The expected credit sales of the second quarter are: April May June $40,000 45,000 50,000 Required: Prepare a multiperiod schedule of cash collections for the second quarter of next year
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