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Dubuque Company has prepared the following sales budget: Month Cash Sales Credit Sales Feb $14,000 $28,000 March 12,800 29,200 April $10,800 $26,400 Collections are 40%
Dubuque Company has prepared the following sales budget: | ||
Month | Cash Sales | Credit Sales |
Feb | $14,000 | $28,000 |
March | 12,800 | 29,200 |
April | $10,800 | $26,400 |
Collections are 40% in the month of sale, 50% in the month following the sale, and 10% two months following the sale. | ||
Prepare a schedule of total cash collected in April. |
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