Diego's Hardware sales are 30% in cash and 70% on credit. 60% of the credit sales are collected in the month of sale. 25
Posted: Mon May 30, 2022 7:45 am
Diego's Hardware sales are 30% in cash and 70% on credit. 60% of
the credit sales are collected in the month of sale. 25% in the
month following sale, and 12% in the second month following sale.
The remainder are uncollectible. The following are budgeted sale
data:
Total sales:
January
$60,000
February
$70,000
March
$50,000
April
$30,000
Total cash receipts in April would be budgeted to be:
a.
$47,900
b.
$36,230
c.
$38,900
d.
$27,230
the credit sales are collected in the month of sale. 25% in the
month following sale, and 12% in the second month following sale.
The remainder are uncollectible. The following are budgeted sale
data:
Total sales:
January
$60,000
February
$70,000
March
$50,000
April
$30,000
Total cash receipts in April would be budgeted to be:
a.
$47,900
b.
$36,230
c.
$38,900
d.
$27,230