Question 1 Not yet answered Marked out of 4.00 Flag question Adam company., has decided to start a cash budgeting program to improve overall cash management. Information gathered from the past year reveals the following cash collection trends: 1. 40% of sales are on credit 2.50% of credit sales are collected in month of sale 3.30% of credit sales are collected first month after sale 4.15% of credit sales are collected second month after sale 5.5% of credit sales result in bad debts Gross sales for the last 5 months were as follows: January $220,000 / February 240,000 / March 250,000 April 230,000 / May 250,000 / Sales for lun are projected to be $255,000 Based on this information, the expected cash receipts for March would be Paragraph BISE MacBook Air > FB 76 FS DOO * & M9 90 V 00