Peaches & Cream Company's sales are 30% in cash and 70% on credit. Sixty percent of the
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Question:
Peaches & Cream Company's sales are 30% in cash and 70% on credit. Sixty percent of the credit sales are collected in the month of sale, 25% in the month following sale, and 12% in the second month following sale. The remainder is uncollectible. The following are budgeted sales data:
| January | February | March | April | |
| Total Sales | $60,000 | $75,000 | $52,000 | $38,000 |
What would be the budgeted total cash receipts in April?
Expert Answer:
To calculate the budgeted total cash receipts in April we need to consider the portion of sales that ... View the full answer
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