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Compute the budgeted cash collections for february

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Reference no: EM133162153

Question - Below is the sales budget for Choc Enterprises: December through April:

 

Dec

Jan

Feb

Mar

Apr

Sales

$90,000

$60,000

$50,000

$80,000

$60,000

Historically, 20% of sales are collected in the month of sale, 70% is collected the month after the sale, 6% is collected two months after the sale, and 4% are written off as uncollectible.

Required - Compute the budgeted cash collections for February.

A. $50,000

B. $54,400

C. $57,400

D. $69,600

Reference no: EM133162153

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