Question

Meredith Company has budgeted sales for the upcoming months as follows: April May June July August September $451,000 $ 468,0
b. Compute Meredith Companys cash receipts for July. (Do not round Intermediate calculations.) Cash Receipts c. Compute Mere
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Answer #1
June July August
Cash Sales 347200 362600 352800
Collection of credit Sales
April Sales 8118
May Sales 49140 8424
June Sales 173600 121520 20832
July Sales 77700 54390
August Sales 75600
Total Cash Collection 578058 570244 503622

a) Cash collection in June = $578058

b) Cash collection in July = $570244

c) Cash collection in August = $503622

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