Sales in December were $960,000. Projected sales for the first quarter of next year are:
 

	January	$1,080,000
	February	$1,300,000
	March	$1,280,000

Sales are 20% cash and 80% on credit. Debtors pay in the month following the sale.

Calculate the total cash sales for the three months, January, February and March.

 

The Kelsey Company sells a product for $10.   Budgeted sales for the first quarter of next year are as follows:

		Budgeted Sales
	January	$400,000
	February	$600,000
	March	$700,000

The company collects 70% in the month of sale and 25% in the following month.   Five percent of all sales are uncollectible and written off.

Budgeted cash receipts for February are:

 

If a firm had credit sales of $1,550,000 for March and collected its sales 30% in the month of sale and 70% in the month following the sale, how much of March sales would be collected in cash in March?

 

 

Answer rating: 100% (QA)

Cash Sales Calculations Problem 1 Total sales for January February and March 96000... View the full answer