Accounting: Cash budget.
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Robot Company sells a product for $35. Budgeted sales for the first quarter of 2010 are as follows:
January $600,000
February 300,000
March 900,000
The Company collects 70% in the month of sale and 25% in the following month. 5% of all sales are uncollectible and are written off.
What are the budgeted cash collections for March 2010?
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Solution Summary
The problem deals with estimating the cash budget from provided information.
Education
- B. Sc., University of Nigeria
- M. Sc., London South Bank University
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