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Company A is a merchandising firm. Its budgeted sales (in dollars) for the next four months follows: March April May June Total Budgeted Sales $50,000
Company A is a merchandising firm. Its budgeted sales (in dollars) for the next four months follows:
| March | April | May | June |
Total Budgeted Sales | $50,000 | $70,000 | $90,000 | $60,000 |
Assume each month, 40% of Sales are Cash and 60% of Sales are Credit Sales.
From experience, the company has learned that Credit Sales are collected according to the following pattern:
70% in the month of sale and 30% in first month following the month of sale.
What are the budgeted Cash Collections for June?_____________
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