Answer:
I looked up the missing information, hopefully it's the same as your question. If not you can adjust the answer.
Its collection history indicates that credit sales are collected as follows:
-
25% in the month of the sale
-
50% in the month after the sale
-
15% two months after the sale
-
10% are never collected
sales revenue:
- November $16,100
- December $10,400
- January $15,600
- February $12,400
- March $14,400
Jewel Services
Cash Collections budget
For the months of January, February, and March
cash collected from sales January February March Quarter
from November sales $2,415 $2,415
from December sales $5,200 $1,560 $6,760
from January sales $3,900 $7,800 $2,340 $14,040
from February sales $3,100 $6,200 $9,300
<u>from March sales $3,600 $3,600 </u>
Total $11,515 $12,460 $12,140 $36,115
