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All of Tesla sales are on account. 60% of the credit sales are collected in the month of sale, 25% in the month following sale,
All of Tesla sales are on account. 60% of the credit sales are collected in the month of sale, 25% in the month following sale, and 10% in the second month following sale. 5% is uncollectible. The following are budgeted sales data for the company: January $400,000 $400,000 February $600,000 $600,000 March $500, April Total sales....... Cash receipts in April are expected to be: $185,000 $545,000 $420,000 $605,000
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