- In The First Six Months Of 2022 The The Shelf Company Expected Monthly Sales Of Cash Sales Credit Sales 80 000 85 000 1 (21.72 KiB) Viewed 11 times
In the first six months of 2022, the The Shelf
Company expected monthly sales of Cash Sales Credit Sales $80,000 $85,000 January February $180,000 $200,000 $160,000 $126,000 $230,000 $200,000 The
company's cost accountants have reviewed past sales and have determined this collection pattern: Collections on sales: 45% in month of sale March April May June $46,000 $41,000 $51,000 $110,000 50% in month following sale 5% in second month following sale On January 1, 2022, the accounts receivable balance was $81,000, of which $55,000 was left from December sales that had not yet been collected and $26,000 were from November sales that had not yet been collected. Budgeted cash collections during January by The Shelf
Company would be: