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What is the expect cash to be collected in march

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Reference no: EM131743928

Question - The following is the sales budget for the given months of BCO Pte Ltd.:

Cash Sales Credit Sales

March $60,000 $232,000

April $34,000 $219,000

May $43,000 $224,000

June $48,000 $290,000

July $58,000 $222,000

Additional information to be used determining the expected cash collections each month that will be used in preparing the cash budget:

Collections on Credit sales:

60% in month of sale

30% in month following sale

10% in second month following sale

The Accounts Receivable balance on March 1 was $60,000. Of this amount, $40,000 represented uncollected February sales and $20,000 represented uncollected January sales.

Part 1: What is the expect cash to be collected in March?

Part 2: The budgeted Accounts Receivable on July 1 would be?

Reference no: EM131743928

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