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Souper Trouper sells pre-packaged soups to local grocery stores. Souper Trouper's actual and budgeted sales information for January, February, and March are as follows: January
Souper Trouper sells pre-packaged soups to local grocery stores. Souper Trouper's actual and budgeted sales information for January, February, and March are as follows: January (Actual) February (Budgeted) March (Budgeted) Cash Sales $80,000 $100,000 $60,000 Credit Sales $240,000 $360,000 $180,000 Total Sales $320,000 $460,000 $240,000 10% of all sales made on credit are determined to be uncollectible. Of credit sales that are collectible, 50% are collected in the month of the sale and 50% is collected in the month following the sale. Inventory purchased, each month, are equal to 50% of the next month's projected total sales. All purchases of inventory are done on account with 25% paid in the month of purchase and the remainder paid in the month following the purchase. ============================================================ Required. What is Souper Trouper's budgeted cash collections in February from January's credit sales? Do not use $ signs in your answer. Round your answer to the nearest dollar
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