MIRA Corp. forecasted the following sales: $127,000 in February, $136,000 in March, $152,000 in April, and $145,000 in May. The average cost of goods sold is 80% of sales. All sales are on made on credit and sales are collected 65% in the month of sale, and 35% the month following. What are budgeted cash receipts in March

Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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MIRA Corp. forecasted the following sales: $127,000 in February, $136,000 in March, $152,000 in April, and $145,000 in May. The average cost of goods sold is 80% of sales. All sales are on made on credit and sales are collected 65% in the month of sale, and 35% the month following. What are budgeted cash receipts in March?

 

Multiple Choice
  •  

    $136,850

  •  

    $132,850

  •  

    $93,550

  •  

    $96,350

 
 
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