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Boise Boots prepared the following sales budget: Month March April May June Cash Sales Credit Sales $17,000 $12,000 $37,000 $15,000 $37,000 $36,000 $50,000 $52,000
Boise Boots prepared the following sales budget: Month March April May June Cash Sales Credit Sales $17,000 $12,000 $37,000 $15,000 $37,000 $36,000 $50,000 $52,000 Credit collections are 10% two months following the sale, 55% in the month following the sale and 30% in the month of sale. The remaining 5% is expected to be uncollectible. What are the total cash collections in May at Boise Boots? OA. $73,000 B. $20,250 C. $57,250 D. $15,450
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