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Two Brothers Moving prepared the following sales budget: Month Cash Sales Credit Sales March $20,000 $10,000 April $36,000 $16,000 May $42,000 $40,000 June $54,000 $48,000
Two Brothers Moving prepared the following sales budget:
Month | Cash Sales | Credit Sales |
March | $20,000 | $10,000 |
April | $36,000 | $16,000 |
May | $42,000 | $40,000 |
June | $54,000 | $48,000 |
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 June at Two Brothers Moving?
A.
$37,600
B.
$96,300
C.
$86,800
D.
$91,600
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