All Loving Earth Inc sales are on account. 50% of sales are collected in the...
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Accounting
All Loving Earth Inc sales are on account. 50% of sales are collected in the month of the sale, 30% are collected in the month following the sale and 20% are collected in the second month following the sale. The following are the budgeted sales for the first quarter:
January $150,000
February $175,000
March $85,000
What is the budgeted cash receipts for the month of March?
Multiple Choice
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$125,000
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$42,500
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$95,000
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$96,250
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