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Martinez Corporation's sales of gizmos are 25% for cash and 75% on credit. Past collection history indicates that credit sales are collected as follows: Month
Martinez Corporation's sales of gizmos are 25% for cash and 75% on credit. Past collection history indicates that credit sales are collected as follows:
Month of SaleMonth After SaleSecond Month After SaleUncollectible30%50%15%5%
In January, sales were $80,000 and February sales were $70,000. Projected sales for March are 3,000 gizmos at $13 each. Projected sales for April are 4,000 gizmos at $14 each.
Calculate the budgeted cash collections for April.
Cash collections during April
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