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Discuss all sales are made on credit and sales are collected

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Grover has forecast sales to be $125,000 in February, $135,000 in March, $150,000 in April, and $140,000 in May. The average cost of goods sold is 70% of sales. All sales are made on credit and sales are collected 60% in the month of sale, and 40% the month following. What are budgeted cash receipts in April?

a. 141,000
b. 105,000
c. 144,000
d. 150,000

Reference no: EM131762269

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