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ABC Company's sales budget shows the following expected total sales: Month Sales April $32,000 $30,000 May June July $ 35,000 $ 40,000 The company expects
ABC Company's sales budget shows the following expected total sales: Month Sales April $32,000 $30,000 May June July $ 35,000 $ 40,000 The company expects 70% of its sales to be credit sales. Credit sales are collected as follows: 25% in the month of sale and 68% in the month following the sale, with the remainder being uncollectible and written off. Total cash receipts during June would be: $30,905 $29,150 O $35,665 $36,160
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