Forza Inc. provided the following information relevant to its sales. Credit sales Cash sales Dec...
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Forza Inc. provided the following information relevant to its sales. Credit sales Cash sales Dec Year 1 (Actual) $ 120,000 $ 20,000 Jan. Year 2 (Budgeted) $ 280,000 $ 50,000 Feb. Year 2 (Budgeted) $310.000 $ 60,000 Mar. Year 2 (Budgeted) $220,000 $ 24,000 Based on the company's collection history, 42% of credit sales are collected in month of sale and the remainder is collected in the following month. Total budgeted cash receipts in February are expected to be $352,600 $225,000 $102,400 $60,000
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