The PDQ Company makes collections on credit sales according to the following schedule:
25% in month of sale
70% in month following sale
4% in second month following sale
The following sales have been budgeted:
Cash collections in June would be:
d. $115,500© BrainMass Inc. brainmass.com June 4, 2020, 12:37 am ad1c9bdddf
The solution explains how to calculate the cash collections.