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Saltram Ltd has the following budgeted sales for May, June and July: Credit sales Cash sales May 60,000 72,000 June 75,000 45,000 July 80,000
Saltram Ltd has the following budgeted sales for May, June and July: Credit sales Cash sales May 60,000 72,000 June 75,000 45,000 July 80,000 48,000 60% of credit customers pay after 2 months and 40% pay after 1 month. Those that pay after 1 month receive a 10% discount for prompt payment. During July it is expected that a warehouse will be sold for 100,000 to help pay off the business's overdraft. What are the total budgeted cash receipts for July? A. 211,000 B. 228,000 C. 214,000 D. 280,000
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