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Two Brothers Moving prepared the following sales budget: Month March April May June Cash Sales $22,000 $32,000 $35,000 $52,000 Credit Sales $14,000 $11,000 $42,000 $47,000
Two Brothers Moving prepared the following sales budget: Month March April May June Cash Sales $22,000 $32,000 $35,000 $52,000 Credit Sales $14,000 $11,000 $42,000 $47,000 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? A. $26,430 B. $61,430 C. $48,830 D. $102,000
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