Cedar Company has forecast purchases to be $338,000 in June, $377,000 in July, $319,000 in August, and $275,000 n September. Purchases average 35% paid in cash and 65% paid on credit, Credit purchases are paid 65% in the month of purchase, 20% during the month following, and 15% the second month following the purchase. Budgeted cash payments for September would be:

Cedar Company has forecast purchases to be $338,000 in June, $377,000 in July, $319,000 in August, and $275,000 n September. Purchases average 35% paid in cash and 65% paid on credit, Credit purchases are paid 65% in the month of purchase, 20% during the month following, and 15% the second month following the purchase. Budgeted cash payments for September would be:

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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Big Wheel, Inc., collects 25% of its sales on account in the month of the sale and 75% in the month following the sale. Sales on account are budgeted to be $21,900 for March and $33,200 for April. What are the budgeted cash receipts from sales on account for April?$