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Calculate abc companys budgeted sales in march

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Reference no: EM131643247

Problem - Shown below are the budgeted sales for ABC Company for the first five months of 2020.

All sales are made on account:

                   Budgeted Sales

January                  ?

February                 ?

March                    ?

April                 $88,200

May                   $91,000

On average, 60% of the sales are collected in the month of sale, 20% are collected in the month following sale, 15% are collected in the second month following sale, and the remaining 5% is collected three months after the month of sale.

ABC Company had budgeted cash collections from customers of $77,745 in April and $83,475 in May. ABC's budgeted accounts receivable at May 31 totaled $56,630.

Calculate ABC Company's budgeted sales in March.

Reference no: EM131643247

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