Feeney Furniture prepared the following sales budget: Credit collections are 5% two months following the sale, 30% in the month following the sale, and 62% in the month of sale. The remaining 3% is expected to be uncollectible.
What is the total cash received in April from the April sales at Feeney Furniture?

Question

Feeney Furniture prepared the following sales budget:  Credit collections are 5% two months following the sale, 30% in the month following the sale, and 62% in the month of sale. The remaining 3% is expected to be uncollectible.
What is the total cash received in April from the April sales at Feeney Furniture?

Quizplus · Accepted Answer

The Answer of Feeney Furniture prepared the following sales budget:  Credit collections are 5% two months following the sale, 30% in the month following the sale, and 62% in the month of sale. The remaining 3% is expected to be uncollectible.
What is the total cash received in April from the April sales at Feeney Furniture?

Feeney Furniture Prepared the Following Sales Budget: Credit Collections