Ginobili has forecast sales to be $120,800 in February, $155,100 in March, $160,500 in April, and...
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Ginobili has forecast sales to be $120,800 in February, $155,100 in March, $160,500 in April, and $177,600 in May. 64% of sales are on made on credit, the rest are for cash. The sales on credit are collected 70% in the month of sale, and 30% the month following. What are the total budgeted cash receipts in March? |
Homework Answers
| Cash sales in March (155,100*36%) | 55,836 |
| Credit sales in March collected in March (155,100*64%)*70% | 69,485 |
| Credit sales of Feb (120,800*64%*30%) | 23,194 |
| Budgeted cash receipts in March | 148,515 |
Note : I have rounded some numbers. Comment if you face any issues
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Ginobili has forecast sales to be $120,800 in February, $155,100
in March, $160,500 in April, and...
Ginobili has forecast sales to be $120,800 in February, $155,100 in March, $160,500 in April, and...
Ginobili has forecast sales to be $120,800 in February, $155,100 in March, $160,500 in April, and $177,600 in May. The average cost of goods sold is 70% of sales. 64% of sales are on made on credit, the rest are for cash. The sales on credit are collected 65% in the month of sale, and 35% the month following. What are budgeted cash receipts on credit sales in March collected in March?
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