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29 Feeney Furniture prepared the following sales budget: Month March April May June Cash Sales Credit Sales $24,000 $8000 $38,000 $18,000 $42,000 $40,000 $51,000 $49,000
29 Feeney Furniture prepared the following sales budget: Month March April May June Cash Sales Credit Sales $24,000 $8000 $38,000 $18,000 $42,000 $40,000 $51,000 $49,000 2.5 Credit collections are 10% two months following the sale, 60% in the month following the sale and 25% in the month of sale. The remaining 5% is expected to be uncollectible. What are the total cash collections in May at Feeney Furniture? O $63,600 $16,800 $21,600 $82,000
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