3. Linguine Resto is planning its cash budget. It anticipates P30,000 in sales in January, P35,000 in February, and P35,000 in March. What are the estimated cash receipts for March, if 20 percent of sales are cash, 40 percent are credit sales paid in the month after the sale, and 40 percent are credit sales paid 2 months after the sale?

3. Linguine Resto is planning its cash budget. It anticipates P30,000 in sales in January, P35,000 in February, and P35,000 in March. What are the estimated cash receipts for March, if 20 percent of sales are cash, 40 percent are credit sales paid in the month after the sale, and 40 percent are credit sales paid 2 months after the sale?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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