A company's sales price per unit is $19. It has the following sales: Jan 590 units Feb 370 units Mar 530 units Apr 470 units May 470 units Sixty percent of sales are cash. Of the credit sales, 54 percent is collected in the month of the sale, 35 percent is collected during the following month, and 11 percent is never collected. Required: Calculate total cash receipts for April and May.

Answer rating: 100% (QA)

First lets calculate the total sales for each month in dollar values The formula we will use is Tota... View the full answer