COVID19Co has forecast sales to be $130.000.in February, $144.000 in March, $150.000 in April, and $146,000...
COVID19Co has forecast sales to be $130.000.in February, $144.000 in March, $150.000 in April, and $146,000 in May. The average Cost of goods sold is 80% of sales. All sales are on made onredit and sales are collected 65% in the month of sale, and 35% the month following. What are budgeted cash receipts in March?
Homework Answers
| Schedule of budgeted cash receipts | |
| March | |
| February sales (130,000 x 35%) | 45,500 |
| March sales (144,000 x 65%) | 93,600 |
| Budgeted cash receipts | 139,100 |
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COVID19Co has forecast sales to be $130.000.in February,
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