Managerial Accounting (15th Edition)

Published by McGraw-Hill Education
ISBN 10: 007802563X
ISBN 13: 978-0-07802-563-1

Chapter 8 - Master Budgeting - The Foundational 15 - Required - Page 372: 2

Answer

$632.800

Work Step by Step

The budgeted sales for June $\$70 \times 8,400 = \$588.000$ Collection sales for June = $\$588.000 \times 60\%=352.800$ Collection sales for July = $\$700.000 \times 40\%=280.000$ The expected cash collections for July = $352.800+280.000=\$632.800$
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