Ginobili has forecast sales to be $109,600 in February, $158,100 in March, $163,500 in April, and...
Ginobili has forecast sales to be $109,600 in February, $158,100 in March, $163,500 in April, and $176,600 in May. 60% of sales are on made on credit, the rest are for cash. The sales on credit are collected 30% in the month of sale, and 70% the month following.
What are the total budgeted cash receipts in March?
Homework Answers
Answer
| Budgeted Cash receipts in March will include | ||
| Cash from Cash sale of March [$ 158100 x 40%] | $63,240 | |
| Cash from credit sale of February [$ 109600 x 60% x 70% collected in March] | $46,032 | |
| Total Budgeted Cash receipt in March | $109,272 | Answer |
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