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 |
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What are the total cash receipts in the April budget?
$36,900
$53,500
$52,700
$32,700
$24,900
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