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Shown below are budgeted sales for ZZ, Inc. Budgeted Sales in Units 7,600 units 8,200 units 5,700 units January February March April 6,900 units May
Shown below are budgeted sales for ZZ, Inc. Budgeted Sales in Units 7,600 units 8,200 units 5,700 units January February March April 6,900 units May ????? units All sales are made on account. The selling price is $18 per unit. The sales are collected in the pattern 40% in the month of sale, 20% in the month following sale, 30% in the second month following sale, and the final 10% is collected in the third month following sale. A) Calculate the total expected cash collections for the month of April. B) Assume ZZ, Inc.'s pro forma balance sheet at May 31 reported a budgeted accounts receivable balance of $172,962. Calculate the number of units budgeted to be sold in May
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