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
Correct Answer:
Verified
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