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30) Feeney Furniture prepared the following sales budget: Month March April May June Cash Sales Credit Sales $22,000 $14,000 $35,000 $17,000 $45,080 $37,000 $54,000 $48,000
30) Feeney Furniture prepared the following sales budget: Month March April May June Cash Sales Credit Sales $22,000 $14,000 $35,000 $17,000 $45,080 $37,000 $54,000 $48,000 Credit collections are 5% two months following the sale, 43% in the month following the sale, 50% in the month of sale. The remaining 2% is expected to be uncollectible. What is the total cash received in April from the April sales at Feeney Furniture? A) $43,500 B) $26,500 C) $52,000 D) $8500
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