8-7 Q1. Pricilla's Bail Bonds budgeted sales are shown below. 40 % of sales are...
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8-7 Q1. Pricilla's Bail Bonds budgeted sales are shown below. 40 % of sales are collected in the month of sale, 30% in the month following sale, and 25% in the second month following sale. The remainder is uncollectible. January $60,000 February $70,000 Sales March April May June $50,000 $30,000 $40,000 $60,000 Total cash receipts in April would be budgeted to be: Cash collected from (CREDIT) sales: February March April Credit Sales $ 70,000 $ 50,000 $ 30,000 * Collected during April =Cash collected during April HI
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