Question

Mississippi Retailers expects credit sales in the next quarter as follows:
April ....... $ 80,000
May ........ 90,000
June ........ 113,000
Prior experience has shown that 60 percent of a month’s sales are collected in the month of sale, 25 percent are collected in the month following sale, and the remaining 15 percent are collected in the second month following sale. February and March sales were $90,000 and $100,000, respectively.

Required
Estimate budgeted cash receipts for April, May, and June.



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  • CreatedSeptember 23, 2013
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