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Benton Company's sales budget shows the following expected total sales: Month Sales January $ 17,000 February $ 38,000 March $ 43,000 April $ 48,000 The
Benton Company's sales budget shows the following expected total sales:
Month | Sales | ||
January | $ | 17,000 | |
February | $ | 38,000 | |
March | $ | 43,000 | |
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, 66% in the month following the sale with the remainder being uncollectible and written off. The total cash receipts during April would be:
Multiple Choice
$42,666.
$25,200.
$34,200.
$34,445.
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