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Browning Company's sales budget shows the following expected total sales: Month Sales January $16,000 February $39,000 March $44,000 April $49,000 The company expects 70% of
Browning Company's sales budget shows the following expected total sales: Month Sales January $16,000 February $39,000 March $44,000 April $49,000 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, 65% in the month following the sale with the remainder being uncollectible and written off in the month following the sale. The total cash inflows from the collection of receivables in April would be:
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