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Calculate the estimated cash collections in may

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Question - Lee's Appliance forecasts the following sales figures for the next four months.

April $250,000

May $150,000

June $225,000

July $150,000

Cash sales average 10% of the total sales and credit sales are collected 50% in the month of sale and 50% in the month following sale. The estimated cash collections in May are:

A. $215,000.

B. $207,500.

C. $195,000.

D. $150,000.

E. $82,500.

Reference no: EM132426753

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