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Benton Company's sales budget shows the following expected total sales: Month Sales January $ 16,000 February $ 20,000 March $ 25,000 April $ 48,000 The
Benton Company's sales budget shows the following expected total sales:
Month Sales
January $ 16,000
February $ 20,000
March $ 25,000
April $ 48,000
The company expects 70% of its sales to be on account (credit sales). Credit sales are collected as follows: 25% in the month of sale, 70% in the month following the sale with the remainder being uncollectible and written off. The total cash receipts during April would be:
Multiple Choice
$35,200.
$25,200.
$19,925.
$35,050.
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