Mapleview, Inc. has the following budgeted sales: July $200,000, August $300,000, and September $250,000. 40%...
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Mapleview, Inc. has the following budgeted sales: July $200,000, August $300,000, and September $250,000. 40% of the sales are for cash and 60% are on credit. For the credit sales, 50% are collected in the month of sale, and 50% the next month.
Mapleview, Inc.'s direct materials budget shows total cost of direct materials purchases: July $100,000, August $180,000 and September $160,000. Cash payments are 60% in the month of purchase, and 40% in the following month.
PREPARE THE FOLLOWING: 1.) Schedule of collections from customers 2.) Schedule of payments for Direct Materials
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