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Calculate the expected cash collections for April

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Reference no: EM132510845

Question - Shown below are the budgeted sales for ABC Company for the next six months:

 

Sales for Cash

Sales on Account

January

$15,000

$70,000

February

$18,000

$80,000

March

$14,000

$160,000

April

$26,000

$120,000

May

$18,000

$170,000

June

$24,000

$105,000

On average, 35% of the sales on account are collected in the month of sale, 40% are collected in the month following sale, 10% are collected in the second month following sale, and the remaining 15% is collected three months after the month of sale. Calculate the expected cash collections for April.

Reference no: EM132510845

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