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Your Company's sales are 40% in cash and the rest on credit. Fifty percent of...

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Accounting

Your Company's sales are 40% in cash and the rest on credit. Fifty percent of the credit sales are collected in the month of sale, 25% in the month following sale, and 20% in the second month following sale. The remainder are uncollectible. The following are budgeted sales data:

January

February

March

April

Total sales

$60,000

$70,000

$50,000

$30,000

What are the total cash receipts in the April budget?

a. $52,700

b. $36,900

c. $32,700

d. $24,900

e. $53,500

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