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Budgeted sales in Allen Company are given below: April May Budgeted Cash Sales $50,000 $25,000 Budgeted Credit Sales $130,000 $95,000 Total Budgeted Sales $180,000 $120,000
Budgeted sales in Allen Company are given below: April May Budgeted Cash Sales $50,000 $25,000 Budgeted Credit Sales $130,000 $95,000 Total Budgeted Sales $180,000 $120,000 Collections for sales on account follow a stable pattern as follows: 60% of a month's credit sales are collected in the month of sale and 40% are collected in the month following sale. Given these data, the total of all collections for May should be: $141,000 $134,000 $109,000 $155,000
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