Question
The following credit sales are budgeted by Landis Electronics: January= $200,000 February = $250,000 March= $300,000 April= $400,000 May= $460,000 Past experience indicates that 45%
The following credit sales are budgeted by Landis Electronics:
January= $200,000
February = $250,000
March= $300,000
April= $400,000
May= $460,000
Past experience indicates that 45% of the accounts receivable are collected in the month of sale, 35% in the month following the sale and 17% in the second month following the sale. 3% of the sales are uncollectible.
Use the above information. Calculate the anticipated cash receipts for March.
Group of answer choices
A. $248,500
B. $256,500
C. $262,500
D. $265,500
Use the above information. Calculate the anticipated cash receipts for April.
Group of answer choices
A. $327,500
B. $335,000
C. $337,500
D. $339,000
Use the above information. Calculate the anticipated cash receipts for May.
Group of answer choices
A. $388,200
B. $398,000
C. $407,000
D. $420,800
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