McDavid Company has completed its sales budget for the first quarter of 2007. Projected credit sales for the first four months of the year are shown here:

January- $30,000;

February- $36,000;

March- $45,000;

April- $48,000.

The company's past records show a collection of credit sales as follows: 30% in the month of sale and the balance in the following month. The total cash collection from receivables in March will be?

Answer rating: 100% (QA)

Heres how to calculate the total cash collection fr... View the full answer