The Doley Company has planned the following sales for the next three months:
Sales are made 20% for cash and 80% on account.From experience,the company has learned that a month's sales on account are collected according to the following pattern:
The company requires a minimum cash balance of $5,000 to start a month.The beginning cash balance in March is budgeted to be $6,000.
Required:
a)Compute the budgeted cash receipts for March.
b)The following additional information has been provided for March:

Question

The Doley Company has planned the following sales for the next three months:  
Sales are made 20% for cash and 80% on account.From experience,the company has learned that a month's sales on account are collected according to the following pattern:  
The company requires a minimum cash balance of $5,000 to start a month.The beginning cash balance in March is budgeted to be $6,000.
Required:
a)Compute the budgeted cash receipts for March.
b)The following additional information has been provided for March:

Quizplus · Accepted Answer

The Answer of The Doley Company has planned the following sales for the next three months:  
Sales are made 20% for cash and 80% on account.From experience,the company has learned that a month's sales on account are collected according to the following pattern:  
The company requires a minimum cash balance of $5,000 to start a month.The beginning cash balance in March is budgeted to be $6,000.
Required:
a)Compute the budgeted cash receipts for March.
b)The following additional information has been provided for March:

The Doley Company Has Planned the Following Sales for the Next