Q11

Joseph Lawrence will be opening his company called JL Company in January 2014. He predicts that January, February and March will generate $145,000, $115,000 and $110,000 worth of sales respectively. The company expects to sell 20% of its products for cash. 55% of the sales on account are expected to be collected in the month of the sale, 35% in the month following the sale and the remainder in the following month. Prepare the cash receipts section of the cash budget. Do not enter dollar signs or commas in the input boxes