Browning Company's sales budget shows the following expected total sales:MonthSales$17,000JanuaryFebruary$21,000$26,000$49,000MarchAprilThe company expects 70% of its sales to be on account (credit sales). Credit sales are collected as follows: 25% in the month of sale, 69% in the month following the sale with the remainder being uncollectible and written off. The total cash inflows from sales in April would be:Multiple Choice$35,833.$25,725$35,200.$21,165

Calculation of cash inflows in April:

Answered: Browning Company's sales budget shows…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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