Baltimore Baking is preparing its cash budget and expects to have sales of $50,000 in January,...
Baltimore Baking is preparing its cash budget and expects to have sales of $50,000 in January, $35,000 in February, and $50,000 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? Enter your answer rounded to two decimal places. Do not enter $ or comma in the answer box. For example, if your answer is $12,300.456 then enter as 12300.46 in the answer box.
Homework Answers
Answer:
Expected Cash receipts for March = Cash Gained in March + 40% of
January Credit Sales + 40% of February Credit Sales
Expected Cash receipts for March = 20% * $50,000 + 40% * $50,000 +
40% * $35,000
Expected Cash receipts for March = $10,000 + $20,000 +
$14,000
Expected Cash receipts for March = $44,000
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Baltimore Baking is preparing its cash budget and expects to
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