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The following information is available regarding sales revenue for March and April 2015. Credit card sales revenue is collected on the average of every three
The following information is available regarding sales revenue for March and April 2015. Credit card sales revenue is collected on the average of every three days and amount remaining uncollected at the end of the month represents 10% of the month's credit card sales revenue. A/R sales are collected in the month following the sales. Using the following information regarding sales, calculate the cash inflow for the month of April. March April Sales Revenue: $40,000 $49,000 Cash sales 14,000 15,000 Credit Card sales 29,000 31,000 A/R sales 1,800 1,900 Oa. Ob. $47,680 $47,780 c. $47,600 d.$48,780
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