Assume Georgio’s has the following budgeted sales for the quarter: EEE (Click the icon to view th… 1 answer below »

 
   

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Show transcribed image text Assume Georgio’s has the following budgeted sales for the quarter: EEE (Click the icon to view the sales data.) Determine Georgio’s budget for March cash collections assuming credit sales are collected as follows: 90% is collected the month after sale, 8% is collected two months after the month of sale, and 2% is never collected. Complete the cash budget to determine how much cash will be collected in March Georgio’s Cash Collections Budget For the Month of March Cash sales in current month Collections on credit sales: 90% of credit sales made last month 8% of credit sales made two months ago Total cash collections