Exercise 9-17 Nieto Company\'s budgeted sales and direct materials purchases are

Question

Exercise 9-17 Nieto Company's budgeted sales and direct materials purchases are as follows. Budgeted D.M. Purchases Budgeted Sales January February March Nieto's sales are 30% cash and 70% credit. Credit sales are collected 10% in the month of sale, 50% in the mont are paid 40% in the month of purchase, and 60% in the month following purchase. $256,500 277,200 297,900 $32,700 37,500 51,500 Prepare a schedule of expected collections from customers for March. (Round answers to O decimal places, e.g NIETO COMPANY Expected Collections from Customers March

Explanation / Answer

Expected cash collection in march

Expected payment :

Note for purchase question image not clear.. please post clear image

March January Sales 256500*70%*36% = 64638 February Sales 277200*70%*50% = 97020 March sales (297900*30%+297900*70%*10%) = 110223 Total 271881

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