Business, 30.11.2019 02:31 evelyn82

Logan company's budgeted sales and direct materials purchases are as follows.

budgeted sales budgeted d. m. purchases

january $300,000 $60,000

february 330,000 70,000

march 350,000 80,000

logan'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 purchase, and 60% in the month following purchase.

instructions

(a) prepare a schedule of expected collections from customers for march.

(b) prepare a schedule of expected payments for direct materials for march.

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Logan company's budgeted sales and direct materials purchases are as follows.

budgeted s...

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