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oswell Company has budgeted sales revenue as follows for the next 4

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oswell Company has budgeted sales revenue as follows for the next 4 months as followsFebruary

$150,000

March $120,000

April $ 105, 000

May $165,000

Past experiences indicates that 80% of sales each month are on credit and that collection of credit sales occur as follows: 60% in the month of sale, 35% in the month following the sale, and 3% in the second month following the sale. The other 2% is uncollectible

Prepare a schedule which shows expected cash receipts from sales for the month of May (points: 30) ATTACHMENT PREVIEW Download attachmentRoswell Company has budgeted sales revenue as follows for the next 4 months as follows.February$150,000March$120,000April$105,000May$165,000Past experience indicates that 80% of sales each month are on credit and that collection ofcredit sales occurs as follows: 60% in the month of sale, 35% in the month following thesale, and 3% in the second month following the sale. The other 2% is uncollectible.Prepare a schedule which shows expected cash receipts from sales for the month of May.(Points : 30)

 
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