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What is the amount of budgeted cash collections for june

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Reference no: EM132195282

Question - Starlight Toy Company prepared the following sales budget for the second quarter. Projected sales for each of the first three months of operations are as follows:

Sales Budget

April

May

June

Sales

30,000

43,000

55,000

Sales on Account

370,000

432,000

405,000

Total Sales

400,000

475,000

460,000

Starlight expects to collect 60% of the sales on account in the month of sale, and 30% in the month following the sale, and the remainder in the second month following the sale.

What is the amount of budgeted cash collections for June?

A. $413,200

B. $409,600

C. $464,600

D. $460,000

Reference no: EM132195282

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