ash Sales 70,000 70,000 70,000 70,000 The regular pattern of collection of credit sales is 30% in the month of sale, 60% in the month following sale, and the remainder in the second month following the month of sale. There are no bad debts. What would the budgeted cash receipts during September be? Round your answer to the nearest whole number.

Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
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Chapter7: Budgeting
Section: Chapter Questions
Problem 9EB: Cash collections for Renew Lights found that 65% of sales were collected in the month of sale, 25%...
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Elordi Engineers Corp. has the following budgeted sales data (in dollars):

  June July August September
Credit Sales 290,000 300,000 260,000 310,000
Cash Sales 70,000 70,000 70,000 70,000

The regular pattern of collection of credit sales is 30% in the month of sale, 60% in the month following sale, and the remainder in the second month following the month of sale. There are no bad debts.

What would the budgeted cash receipts during September be?

Round your answer to the nearest whole number. 

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