Question
Miley has the following budgeted sales: January February March April Cash $77163 $68153 $54219 $77091 Credit $272114 $428541 $318499 $411866 The regular pattern of collection
Miley has the following budgeted sales:
| January | February | March | April | |
| Cash | $77163 | $68153 | $54219 | $77091 |
| Credit | $272114 | $428541 | $318499 | $411866 |
The regular pattern of collection of credit sales is 35% in the month of sale, 40% in the month following the month of sale, and the remainder in the second month following the month of sale. There are no bad debts.
Calculate the budgeted cash receipts for April. Round ONLY your final answer to the nearest dollar. Do NOT round intermediate calculations.
Hint: Include ALL sales and consider what is being collected in April.
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The ISO 9001 14001 Or 18001 45001 Certification Audit Make It Painless Eliminate Auditors Invalid Nonconformities
Authors: Fred Dobb
1st Edition
099567857X, 978-0995678576
