Percent collected in the month of sale 25 Percent collected in the month after the sale 68 Percent collected in the second month after the sale 5 Bennett's anticipated sales for the next few months are as follows: April May June $250,000 290,000 280,000 July August 295,000 300,000 (Note: Round all amounts to the nearest dollar.) Required: 1. Calculate credit sales for May, June, July, and August. 2. Prepare a schedule of cash receipts for July and August.

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A: Hi student Since there are multiple subparts, we will answer only first three subparts.

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Conversion Cycle

Conversion cycle is also known as cash cycle or net operating cycle. Conversion cycle refers to how much time a company takes to turn its investments which is done from stock or any other financial resources into cash flows from sales.