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XYZ Corp is presently formulating its cash budget for the year ending on March 31,2014....

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Accounting

XYZ Corp is presently formulating its cash budget for the year ending on March 31,2014. From its sales budget for the same period, the following sales values have been extracted.
March - Rs.60,000
April - Rs.70,000
May - Rs.55,000
June - Rs.65,000
It's projected that 40% of sales will be made for cash. Among the credit sales, 70% are anticipated to be paid in the month following the sale, and the discount allowed is 2% to ensure timely collection of credit sale. Another 27% are expected to be settled in the second month after the sale, while the remaining 3% are anticipated to result in bad debts. What is the value of the sales budget to be reflected in the cash budget for May 2013

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