1.

Test Company projected the following sales for the first six months of the year.

	Total sales
January	$250,000
February	300,000
March	280,000
April	310,000
May	320,000
June	300,000

Of the total sales, 10% are cash sales, and the remaining sales are on credit. Credit sales are collected: 30% in the month of sale, 50% in the first month following the sale, 15% in the second month following the sale, and the remaining credit sales are uncollectible.

Determine total cash collections for April.

Note: Give your answer using dollar signs and commas but no decimal points (cents).

Example: $12,345

2.

Test Company purchases all materials on account. The company pays for 60% of materials purchases in the month of the purchase and 40% in the month following the month of purchase. Budgeted purchase for the first six months of the year are as follow.

	Purchases
January	$100,000
February	120,000
March	125,000
April	115,000
May	100,000
June	110,000

Determine the cash payment April for materials purchases.

Note: Give your answer using dollar signs and commas but no decimal points (cents).

Example: $12,345