Question: Procter & Gamble is preparing its cash budget. It expects to have sales of $40,000 in January, $30,000 in February, and $25,000 in March. If

Procter & Gamble is preparing its cash budget. It expects to have sales of $40,000 in January, $30,000 in February, and $25,000 in March. If 20% of sales are for cash, 40% are credit sales paid in the month after the sale, and another 40% are credit sales paid 2 months after the sale, what are the expected cash receipts for March?

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