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Author Question: Duffy Corporation has prepared the following sales budget: MonthCash SalesCredit ... (Read 147 times)

Tirant22

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Question 1

The possibility of exchange rate fluctuations does NOT influence the budgeting procedures in a multinational corporation.
◦ true
◦ false

Question 2

Duffy Corporation has prepared the following sales budget: 

MonthCash SalesCredit Sales
May$16,000$68,000
June20,00080,000
July18,00074,000
August24,00092,000
September22,00076,000 

Collections are 40% in the month of sale, 45% in the month following the sale, and 10% two months following the sale. The remaining 5% is expected to be uncollectible. 

Required: 
Prepare a schedule of cash collections for July through September.


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Marked as best answer by Tirant22 on Mar 6, 2021

mbcrismon

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Tirant22

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Reply 2 on: Mar 6, 2021
Excellent


pratush dev

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Reply 3 on: Yesterday
Gracias!

 

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