The Khaki Corporation has the following budgeted sales data: The regular pattern of collection of credit sales is 40% in the month of sale, 50% in the month following sale, and the remainder in the second month following the month of sale. There are no bad debts. The budgeted cash receipts for April would be:
A)$350,000
B)$320,000
C)$313,000
D)$383,000

Question

The Khaki Corporation has the following budgeted sales data:  The regular pattern of collection of credit sales is 40% in the month of sale, 50% in the month following sale, and the remainder in the second month following the month of sale. There are no bad debts. The budgeted cash receipts for April would be:
A)$350,000 
B)$320,000 
C)$313,000 
D)$383,000

Quizplus · Accepted Answer

The Answer of The Khaki Corporation has the following budgeted sales data:  The regular pattern of collection of credit sales is 40% in the month of sale, 50% in the month following sale, and the remainder in the second month following the month of sale. There are no bad debts. The budgeted cash receipts for April would be:
A)$350,000 
B)$320,000 
C)$313,000 
D)$383,000

The Khaki Corporation Has the Following Budgeted Sales Data