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Question - Alexis Company A is a merchandising firm. Its budgeted sales (in dollars) for the next four months follows:
March
April
May
June
Total Budgeted Sales
$50,000
$70,000
$90,000
$60,000
Assume each month, 40% of Sales are Cash and 60% of Sales are Credit Sales.
From experience, the company has learned that Credit Sales are collected according to the following pattern: 70% in the month of sale and 30% in first month following the month of sale.
Required - What are the budgeted Cash Collections for June?
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