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FEBRUARY CASH RECEIPTS BUDGET Projections: January sales $1,000,000, February sales $800,000, March sales $1,200,000 and beginning Accounts Receivable (AR from December) sales is $500,000. Assume

FEBRUARY CASH RECEIPTS BUDGET

Projections: January sales $1,000,000, February sales $800,000, March sales $1,200,000 and beginning Accounts Receivable (AR from December) sales is $500,000.

Assume Cash Sales are 20% of sales each month. Of the remaining 80% of sales, 60% is collected in the current month and 40% is collected in the following month.

So during the month of February, the following is the amount of cash collected (select from each dropdown box):

February Cash Receipts Budget $$
Cash sales Choose...320,000800,000480,000160,000864,000384,000400,000
February credit sales Choose...320,000800,000480,000160,000864,000384,000400,000
January credit sales Choose...320,000800,000480,000160,000864,000384,000400,000
Total cash collected Choose...320,000800,000480,000160,000864,000384,000400,000

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