The Kafusi Company has the following budgeted sales: April May June July Credit Sales $320,000 $300,000 $350,000 $400.000 Cash Sales $70,000 $80,000 $90,000 $70,000 The regular pattern of collection of credit sales is 30% in the month of sale, 60% in the month following the month of sale, and the remainder in the second month following the month of sale. There are no bad debts. The budgeted Cash Receipts for July would be: $400,000 $430,000 $390,000 $435,000 Question 10 The ability of a company to collect receivables is measured by which ratio? a Current Ratio ob Acid-Test Ratio Day's sales in accounts receivables d Inventory Turnover