Question
Josefa Falayfay finds that 40 percent of a month's sales are for cash. Payments on accounts receivable are 65 percent in the month of sale
Josefa Falayfay finds that 40 percent of a month's sales are for cash. Payments on accounts receivable are 65 percent in the month of sale and 35 percent in the month following sale. Budgeted sales for January are P100,000, for February P140,000, and for March P120,000. What are the total cash receipts budgeted for March?
Group of answer choices
P111,200
P76,200
Answer not given
P124,200
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Financial Accounting
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
11th Edition
1119594596, 978-1119594598
