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Rubys expects to collect 30 of the sales dollars in the

Question - Ruby's projected budgeted credit sales for the first three months of 2008 are as follows:

January $250,000

February $300,000

March $340,000

Ruby's expects to collect 30% of the sales dollars in the month of the sale and 70% in the month following the sales.

How much cash does Ruby's expect to collect in February?

How much cash does Ruby's expect to collect in March?

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Accounting Basics: Rubys expects to collect 30 of the sales dollars in the

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