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Two Brothers Moving prepared the following sales budget: Month Cash Sales Credit Sales March $ 2 5 , 0 0 0 $ 1 3 ,
Two Brothers Moving prepared the following sales budget:
Month | Cash Sales | Credit Sales |
March | $25,000 | $13,000 |
April | $34,000 | $17,000 |
May | $39,000 | $42,000 |
June | $55,000 | $54,000 |
Credit collections are
25%
in the month of sale, 60%
in the month following the sale, and 10%
two months following the sale. The remaining 5%
is expected to be uncollectible. What are the total cash collections in May at Two Brothers Moving?
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