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BonBon Ltd projects sales for its first two months of operation as follows: January February Credit sales ($) 100,000 150,000 Cash sales ($) 65,000 75,000
BonBon Ltd projects sales for its first two months of operation as follows: January February Credit sales ($) 100,000 150,000 Cash sales ($) 65,000 75,000 Total ($) 165,000 225,000 It is expected that 60% of credit sales will be collected in the month following the sale, 40% in the second month following the sale and the balance the third month. A 4% discount is given if payment is received in the month following sale. What is the anticipated cash receipt in February? $75,000 $132,600 $57,600 $161,400
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