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 March budget? O $62.000 O 36.900 O 52.,700 O $24.900 O $32.700

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 March budget? O $62.000 O 36.900 O 52.,700 O $24.900 O $32.700

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter7: Budgeting

Section: Chapter Questions

Problem 14EA: Halifax Shoes has 30% of its sales in cash and the remainder on credit. Of the credit sales, 65% is...

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