Hagen Company’s budgeted sales and direct materials purchase are as follows. Budgeted Sales Budgeted D.M. Purchases January $300000 $60000 February 330000 70000 March 350000 80000 Hagen’s sales are 40% cash

Hagen Company’s budgeted sales and direct materials purchase are as follows. Budgeted Sales Budgeted D.M. Purchases January $300000 $60000 February 330000 70000 March 350000 80000 Hagen’s sales are 40% cash and 60% credit. Credit sales are collected 10% in the month of sale, 50% in the month following sale, and 36% in the second month following sale; 4% are uncollectible. Hagen’s purchases are 50% cash and 50% on account. Purchases on account are paid 40% in the month of purchases, and 60% in the month following purchases. Prepare a schedule of expected collections from customers for March.

Do you need us to help you on this or any other assignment?


Make an Order Now
0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published.