Do ACG 2071 Fall 2017 jennifer sanchez 11/6/17 9:25 PM Homework: Ch. 11. Master

Question

Do ACG 2071 Fall 2017 jennifer sanchez 11/6/17 9:25 PM Homework: Ch. 11. Master Budget Score: 0 of 1 pt E9-27A (similar to) 6 of 8 (0 complete) HW Score: 0%, 0 of 8 p Question Help Samson Corporation has found that 80% of its sales in any given month are credit sales, while the remainder are cash sales. Of the credit sales, Samson November sales for last year were $90,000, while December sales were $115,000. Projected sales for the next three months are as follows: patten: 25% 50% received in the month after the sale 16% received two months after the sale s 175,000 S 120,000 S 185,000 in the month of the sale Requirement uarter, with a column for each month and for the quarter. (Round your answers to the nearest whole dollar) Samson Corporatiorn Cash Collections Budget For the Months of January through March January Collections on credit sales: Enter any number n h oai ledis and th ck Check Anawer 3 Clear All

Explanation / Answer

Samson Corporation Cash Collection Budget For the months of January through March January February March Quarter Cash Sales 35000 24000 37000 96000 (175000*20%) (120000*20%) (185000*20%) Collection from accounts receivable: Regarding sales of November 11520 11520 (90000*80%*16%) Regarding sales of December 46000 14720 60720 (115000*80%*50%) (115000*80%*16%) Regarding sales of January 35000 70000 22400 127400 (175000*80%*25%) (175000*80%*50%) (175000*80%*16%) Regarding sales of February 24000 48000 72000 (120000*80%*25%) (120000*80%*50%) Regarding sales of March 37000 37000 (185000*80%*25%) Total cash collection 127520 132720 144400 404640

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