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D Question 2 A company is working on their budgets for the year 2021. The table below has a few of their expectations for
D Question 2 A company is working on their budgets for the year 2021. The table below has a few of their expectations for 2021. Accounts Receivable on January 1 $39,427 Sales in January $58,148 Sales in February $78,009 Sales in March $59,231 Sales in April $64,280 20 pts Historically, this company's collection pattern for sales has been 12% as cash sales and 88% on account. The sales on account get collected 62% one month following the sale and the remainder two months following the sale. The Accounts Receivable on January 1 is the result of credit sales in December 2020 and thus is expected to be collected according to the sales on account pattern (62%/38%). How much should this company expect in Cash Collections for the month of February? (round to the nearest whole dollar/input code 0)
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