J V.

asked • 11/02/19

The total cash collection budget for January


The LaPann Company has obtained the following sales forecast data:

July August September October

Cash sales $80,000 $ 70,000 $ 50,000 $ 60,000

Credit sales $240,000 $220,000 $180,000 $200,000

The regular pattern of collection of credit sales is 20% in the month of sale, 70% in the month following the month of sale, and the remainder (10%) in the second month following the month of sale. There are no bad debts.

detail the answer please.

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