The Shoecraft Company's budgeted sales for January, February, and March of $80,000, $60,000, and $50,000, respectively.Seventy percent of sales are on credit.The company collects 60% of its credit sales in the month following sale, 35% in the second month following sale, and 5% is not collected.Shoecraft mailed all statements to credit customers at the end of the month with a term of 1/30, n/60.What are Shoecraft's expected cash receipts for March?

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The Answer of The Shoecraft Company's budgeted sales for January, February, and March of $80,000, $60,000, and $50,000, respectively.Seventy percent of sales are on credit.The company collects 60% of its credit sales in the month following sale, 35% in the second month following sale, and 5% is not collected.Shoecraft mailed all statements to credit customers at the end of the month with a term of 1/30, n/60.What are Shoecraft's expected cash receipts for March?

The Shoecraft Company's Budgeted Sales for January, February, and March