Homework Answers
| May | June | July | Total | |
| Sales $ | 150000 | 175000 | 160000 | 485000 |
| Collections from credit sales of: | ||||
| March | 18750 (25000/20%)*15% |
18750 | ||
| April | 30000 (60000/40%)*20% |
22500 (60000/40%)*15% |
52500 | |
| May | 88200 (150000*98%*60%) |
30000 (150000*20%) |
22500 (150000*15%) |
140700 |
| June | 102900 (175000*98%*60%) |
35000 (175000*20%) |
137900 | |
| July | 94080 (160000*98%*60%) |
94080 | ||
| Total budgeted cash collection $ | 136950 | 155400 | 151580 | 443930 |
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