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Polly 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%
Polly 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 is uncollectible. The following are budgeted sales data: January February March April $60,000 $75,000 $52,000 $38,000 Total Sales What would be the budgeted total cash receipts in April? Multiple Choice $22.230 $42.760 $38.900 567.900
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