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The following credit sales are budgeted by Sheridan Electronics: January $123600 February 120000 March 135600 April 141000 May 141300 The company's past experience indicates that
The following credit sales are budgeted by Sheridan Electronics:
January | $123600 |
February | 120000 |
March | 135600 |
April | 141000 |
May | 141300 |
The company's past experience indicates that 50% of the accounts receivable are collected in the month of sale, 30% in the month following the sale, and 19% in the second month following the sale. 1 percent are uncollectible. How much does the company anticipate as cash receipts for March?
| $134244 |
| $127284 |
| $136947 |
| $123564 |
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