Cash Collections in April
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Question 2:
Pitkins Company collects 17% of a month's sales in the month of sale, 65% in the month following sale, and 14% in the second month following sale. The remainder is uncollectible. Budgeted sales for the next four months are:
January February March April
Budgeted sales $202,000 $303,000 $353,000 $251,000
Cash collections in April are budgeted to be:
$330,540
$314,540
$308,540
$351,540
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Solution Summary
The solution explains how to estimate the april cash collections given the sales and collection pattern
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