Bruno Industries expects credit sales for January, February, and March to be $20

ID: 2467674 • Letter: B

Question

Bruno Industries expects credit sales for January, February, and March to be $205,980, $262,630, and $320,890, respectively. It is expected that 75% of the sales will be collected in the month of sale, and 25% will be collected in the following month.

Compute cash collections from customers for each month. (Round answers to 0 decimal places, e.g. 1525.)

Brief Exercise 21-9 Bruno Industries expects credit sales for January, February, and March to be $205,980, $262,630, and $320,890, respectively. It is expected that 75% of the sales will be collected in the month of sale, and 25% will be collected in the following month. Compute cash collections from customers for each month. (Round answers to O decimal places, e.g. 1525.) Collections from Customers February March Credit Sales anuary February March January Question Attempts: 0 of 5 used SAVE FOR LATER SUBMIT ANSWER

Explanation / Answer

Bruno Industries

Sales Budget

Quarterly Budget

Particulars

Janurary

February

March

First Quarter

Sales

205,980

262,630

320,890

789,500

Bruno Industries

Cash Budget

Quarterly Budget

Particulars

Janurary

February

March

First Quarter

Janurary

154,485

51,495

205,980

February

196,973

65,658

March

240,668

205,980

Total

154,485

248,468

306,325

411,960

Bruno Industries

Sales Budget

Quarterly Budget

Particulars

Janurary

February

March

First Quarter

Sales

205,980

262,630

320,890

789,500

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Bruno Industries expects credit sales for January, February, and March to be $20

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