Question
Accountants at Shell Company have prepared the sales budget for the first quarter of the upcoming year. February sales are budgeted at $175,000.All sales are
Accountants at Shell Company have prepared the sales budget for the first quarter of the upcoming year. February sales are budgeted at $175,000.All sales are made on credit. The cash receipts budget for March shows total cash receipts equal to$148,390. Shell grants a 2% discount to customers who pay within 10 days of the invoice. Shell collects 60% of sales within the discount period, 20% in the month of sale but outside the discount period, 15%in the month following sale and the remainder is uncollectible. What are the budgeted sales for March (if necessary, round your answer to the nearest dollar)?
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