Question

Kaspar Industries expects credit sales for January, February, and March to be $205,300, $270,000, and $320,600, 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.

		Collections from Customers
Credit Sales		January		February		March
January		$enter a dollar amount		$enter a dollar amount		$enter a dollar amount
February		enter a dollar amount		enter a dollar amount		enter a dollar amount
March		enter a dollar amount		enter a dollar amount		enter a dollar amount
		$enter a total amount for this column		$enter a total amount for this column		$enter a total amount for this column

Answer 1

Kaspar Industries Budgeted Cash Collection from Customers For the Months January, February and March Credit sales January February March January 153975 51325 February 2025001 675001 March 240450 Total cash collected 153975253825 307950