We are starting a new company on January 1, 2021. As part of our start-up planning,...

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We are starting a new company on January 1, 2021. As part of our start-up planning, we are developing a cash budget for 2021: On January 1, we plan to have $250,000 in cash for the launch of the start-up. We estimate our January sales at $200,000. . We estimate that 10% of our sales will be in cash; the rest on credit. We estimate that 30% of credit sales will be collected in the month of the sale; the remaining 70% in the month after the sale. We estimate our total cash collected from credit sales in February at $185,400. Our estimated sales in February are closest to (rounded to the nearest thousand): We are starting a new company on January 1, 2021. As part of our start-up planning, we are developing a cash budget for 2021: On January 1, we plan to have $250,000 in cash for the launch of the start-up. We estimate our January sales at $200,000. . We estimate that 10% of our sales will be in cash; the rest on credit. We estimate that 30% of credit sales will be collected in the month of the sale; the remaining 70% in the month after the sale. We estimate our total cash collected from credit sales in February at $185,400. Our estimated sales in February are closest to (rounded to the nearest thousand):

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To estimate the sales in February we need to calculate the total credit sales ... View the full answer