QUESTION 13 BigBird has forecast sales to be $205,000 in February, $270,000 in March, $290,000 in April, and 5310,000 in May. The average cost of goods sold is 60% of sales. All sales are made on credit and sales are collected 50% in the month of sale. 30% the month following and the remainder two months after the sale. What are budgeted cash receipts in May? O a. $161,250 b. $241,500 OC. $296,000 Od $267.000 QUESTION 14 The Sudbury Company has forecast sales to be $125,000 in February, $135,000 in March, $150,000 in April, and $140,000 in May. The average cost of goods sold is 70% of sales. All sales are on made on credit and sales are collected 60% in the month of sale, and 40% the month following. What are budgeted cash receipts in March? a. $131,000 b. $135,000 OC. $94,500 O d. 91,700