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Two Brothers Moving prepared the following sales budget: Month Cash Sales Credit Sales March $20,000 $5,000 April $37,000 $10,000 May $45,000 $38,000 June $51,000 $45,000
Two Brothers Moving prepared the following sales budget: Month Cash Sales Credit Sales March $20,000 $5,000 April $37,000 $10,000 May $45,000 $38,000 June $51,000 $45,000 Credit collections are 50% in the month of sale, 43% in the month following the sale, and 5% two months following the sale. The remaining 2% is expected to be uncollectible. What are the total cash collections in May at Two Brothers Moving
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