Question
FRANCORP Company is preparing budgets for the quarter ending March 30. Budgeted sales for the next four months are: January 35,000 units; February 50,000 units;
FRANCORP Company is preparing budgets for the quarter ending March 30. Budgeted sales for the next four months are: January 35,000 units; February 50,000 units; March 45,000 units and April 55,000 units.
FRANCORPs sales are 30% cash and 70% on credit. Forty percent of the credit sales are collected in the month of sale, 35% in the month following sale, and 22% in the second month following sale. The remaining amount is uncollectible. All sales in previous quarters have been collected. Determine the total cash collected for the quarter ending March 30.
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