Question
Benton Company's sales budget shows the following expected total sales: Month Sales January $ 24,000 February $ 28,000 March $ 33,000 April $ 42,000 The
Benton Company's sales budget shows the following expected total sales:
| Month | Sales | ||
| January | $ | 24,000 | |
| February | $ | 28,000 | |
| March | $ | 33,000 | |
| April | $ | 42,000 |
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, 68% in the month following the sale with the remainder being uncollectible and written off. The total cash receipts during April would be:
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Essentials Of Corporate Fraud
Authors: Tracy L. Coenen
1st Edition
047019412X, 978-0470194126
