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5. Tessie's Auto Repair and Beauty Salon is estimating the following sales figures for the next four months: Cash Sales Credit Sales Total Sales March
5. Tessie's Auto Repair and Beauty Salon is estimating the following sales figures for the next four months: Cash Sales Credit Sales Total Sales March $1,500 $18,000 $19,500 April $2,200 $26,400 $28,600 May $1,800 $21,600 $23,400 June $2,000 $24,000 $26,000 Tessie has the following collection pattern on credit sales: 10% in month of sale; 30% in month after sale; 50% in second month after sale; 10% uncollectible. What are Tessie's budgeted cash receipts for June? A. $21,080 B. $23,920 D. $25,880 C. $25,870 E. $24,080
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