ABC Co has forecast sales to be $113,499 in February, $145,000 in March, $170,000 in April, and $180,000 in May. The average cost of goods sold is 60% of sales. All sales are on made on credit and sales are collected 60% in the month of sale, and 40% the month following. What are budgeted cash receipts in March?

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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ABC Co has forecast sales to be $113,499 in February, $145,000 in March, $170,000 in April, and $180,000 in May. The average cost of goods sold is 60% of sales. All sales are on made on credit and sales are collected 60% in the month of sale, and 40% the month following.

What are budgeted cash receipts in March? 

 

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