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Parlee Company's sales are 30% in cash and 70% on credit. Sixty percent of the credit sales are collected in the month of sale, 25%
Parlee Company's sales are 30% in cash and 70% on credit. Sixty percent of the credit sales are collected in the month of sale, 25% in the month following sale, and 12% in the second month following sale. The remainder are uncollectible. The following are budgeted sales data:
Jan. Feb. March April
Total Sales $60,000 $70,000 $50,000 $30,000
What would the total cash receipts in April be budgeted to be?
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