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All of Pocast Corporation's sales are on account. Sixty percent of the credit sales are collected in the month of sale, 30% in the month following sale, and 10% in the second month following sale. The following are budgeted sales data for the company: January February March April Total sales $ 700,000 $ 500,000 $ 400,000 $ 600,000 Cash receipts in April are expected to be:
a. $530,000
b. $360,000
c. $460,000
d. $410,000

Respuesta :

phamdiep1810

Answer:

a. $530,000

Explanation:

Cash receipts in April = Sales in February x 10% + Sales in March x 30% + Sales in April x 60% = $500,000 x 10% + $400,000 x 30% + $600,000 x 60%

= $530,000

The table as attached file explains detail information:

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