In recent years, Sands Retro Clothing has collected 45% of its sales in the month of the sale, 53% in the month that follows the sale.The other 2% is not collected.During the first five months of 2017, Sands is anticipating sales of $330,000, $415,000, $540,000, $260,000, and $370,000, respectively.What is the amount of cash receipts budgeted for March?

Question

Quizplus · Accepted Answer

In March, Sands Retro Clothing will collect 45% of March sales ($540,000) and 53% of February sales ($415,000). Calculating these: 0.45 * $540,000 = $243,000 and 0.53 * $415,000 = $219,950. Adding these gives $243,000 + $219,950 = $462,950.

In Recent Years, Sands Retro Clothing Has Collected 45% of Its