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Yurty Limited has the following sales budget for the first three months of 2021: January February March Sales (units) 680 720 780 Credit sales ($)
Yurty Limited has the following sales budget for the first three months of 2021:
| January | February | March |
Sales (units) | 680 | 720 | 780 |
Credit sales ($) | $340,000 | $360,000 | $390,000 |
Yurty expects to collect 40% of its receivables in the month of sale and 55% in the following month, with the remainder expected to go bad. Customers who pay in the
following month, with the remainder expected to go bad. Customers who pay in the month of sale receive a 5% discount.
Calculate the expected cash collections for February.
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