The marketing department has estimated sales in units as follow:

March (actual)..... 18,000

April.... 21,000

May..... 25,500

June.... 27,000

July..... 15,000

The selling price of each unit is $5.

1A) What are the total sales budgeted for the second quarter?

Sales are 20% for cash and 80% on credit.

All payments on credit sales are collected in the month following the sale.

The accounts receivable at March 31 are a result of March credit sales.

1B) What is the expected amount of cash to be collected in June?

1C) What is the budgeted accounts receivable amount for June 30th?

Nordic Company Balance Sheet March 31, 2020 Assets Cash Accounts Receivable Inventory Buildings & equipment (net) $13,500 $72,000 $18,900 $321,150 $425,550 Total Assets $27,450 Liabilities & Owners' Equity Liabilities Accounts Payable Owners' Equity Capital Stock Retained earnings $285,000 $113,100 Total liab. & Owners' equity $425,550