Question: Prisons R Us PRU delivers counseling services to prison inmates
Prisons R Us (PRU) delivers counseling services to prison inmates for the state on a fee-for-service basis. It is preparing its cash budget for the month of March. Its operating budget reflects accrued fee-for-service revenues of $ 12,500, $ 13,000, and $ 14,000, respectively, for the months of January, February, and March. PRU bills the state electronically at the end of each month for the services that it delivers to its fee-for-service clients. PRU collects 60 percent of its fee-for-service billings in the month following the delivery of service, with the remainder being collected in the second month after the delivery of services. What are PRU’s total cash receipts from the state for the month of March?
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