Emily Company has sales on account and sales for cash. Specifically, 60% of its sales...
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Accounting
Emily Company has sales on account and sales for cash. Specifically, 60% of its sales are on account and 40% are for cash. Credit sales are collected in full in the month following the sale. The company forecasts sales of $525,000 for April, $535,000 for May, and $560,000 for June. The beginning balance of Accounts Receivable on April 1 is $300,000. Prepare a schedule of budgeted cash receipts for April, May, and June.
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