COGS are 70% of Sales. You collect 60% of sales in the month of sale and the remaining 40% in the month following the sale. You purchase 30% of your COGS in the month of sale and 70% in the month prior to the sale. You pay for 50% of purchases in the month that it is purchased and the remaining 50% in the month after it is purchased.

	Dec	Jan	Feb	Mar	Apr	May
Sales	1000	7000	6000	5000	6000	7000
COGS	70000	4900	4200	3500	4200	4900
Cash Received			6400		5600	6600
Purchases	5530	4410		3990
Cash Used		4970			4340

Cash	1000	4230	6570		9380
Accounts Receivable	6000	4800		4000
Inventory	2800		1820		2800
Accounts Payable	4760	4200		3990

How much was Cash Received in March?

5400 b. 6200 c. 6600 d. 7200 e. 7800

How much was Cash Used in February?

3850 b. 4060 c. 4440 d. 4820 e. 5260

What is the Accounts Receivable balance for the end of April?

3400 b. 3880 c. 4060 d. 4210 e. 4600