All of Pocast Corporation's sales are on account. Sixty percent of the credit sales are collected in the month of sale, 30% in the month following sale, and 10% in the second month following sale. The following are budgeted sales data for the company: Cash receipts in April are expected to be:
A) $530,000
B) $360,000
C) $460,000
D) $410,000

Question

All of Pocast Corporation's sales are on account. Sixty percent of the credit sales are collected in the month of sale, 30% in the month following sale, and 10% in the second month following sale. The following are budgeted sales data for the company:  Cash receipts in April are expected to be:
A) $530,000 
B) $360,000 
C) $460,000 
D) $410,000

Quizplus · Accepted Answer

The Answer of All of Pocast Corporation's sales are on account. Sixty percent of the credit sales are collected in the month of sale, 30% in the month following sale, and 10% in the second month following sale. The following are budgeted sales data for the company:  Cash receipts in April are expected to be:
A) $530,000 
B) $360,000 
C) $460,000 
D) $410,000

All of Pocast Corporation's Sales Are on Account