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Fielding Corporation has found that 60% of its sales in any given month are credit...

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Accounting

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Fielding Corporation has found that 60% of its sales in any given month are credit sales, while the remainder are cash sales. Of the credit sales, Fielding Corporation has experienced the following collection pattern November sales for last year were S85,000, while December sales were $110,000. Projocted sales for the next three months are as follows S 145,000 S 125,000 S 195,000 January sales 25% received in the month of the sale 50% received in the month after the sale 15% received two months after the sale 10% of the credit sales are never received February sales March sales Requirement Prepare a cash collections budget for the first quarter, with a column for each month and for the quarter Round your answers to the nearest whole dollar.) 25% Month of sale 50% Month after 15% Two months after Total cash collections Enter any number in the edit fields and then click Check Answer Clear All Check Answer remaining

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