Cash receipts budget. Prescott Co. has actual sales for January and February and forecasted sales for March, April, May and June as follows:
Based on past experience, it is estimated that 40% of a month's sales is collected in the month of sale, 50% is collected in the month following the sale, and 9% is collected in the second month following the sale.
Calculate the estimated cash receipts for March, April, and May.© BrainMass Inc. brainmass.com June 3, 2020, 7:19 pm ad1c9bdddf
This solution assists in determining cash receipts.