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What are budgeted cash receipts in may

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Question 1: GoFast makes custom three-wheeled motor trikes that are the fastest in the industry. Forecast sales to be $413,000 in February, $543,000 in March, $583,000 in April, and $623,000 in May. The average cost of goods sold is 60% of sales. All sales are made on credit and sales are collected 50% in the month of sale, 30% the month following and the remainder two months after the sale. What are budgeted cash receipts in May?

Reference no: EM132528613

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