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How much should leslie budget for cash receipts for june

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Reference no: EM133004722

Leslie, Inc. sells crab traps for $8 each. Thirty percent of the sales are for cash and the remainder is on credit. Past collection history indicates that credit sales are collected as follows:

During the Month of Sale             In the Month After the Sale
25%                                                    75%

Problem 1: Sales are projected for the summer season as follows: $40,000 during April, $120,000 during May, $98,000 during June, $150,000 during July, and $50,000 during August. How much should Leslie budget for cash receipts for June?

Reference no: EM133004722

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