Singal Inc.is preparing its cash budget.It expects to have sales of $30,000 in January,$35,000 in February,and $22,500 in March.If 20% of sales are for cash,40% are credit sales paid in the month after the sale,and another 40% are credit sales paid 2 months after the sale,what are the expected cash receipts for March?

Question

Quizplus · Accepted Answer

The expected cash receipts for March include 20% of March sales ($4,500), 40% of February sales ($14,000), and 40% of January sales ($12,000), totaling $30,500.