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What are budgeted cash receipts in may

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Question - Blue Company has forecast sales to be $410,000 in February, $540,000 in March, $580,000 in April, and $620,000 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?

a. $592,000

b. $620,000

c. $483,334

d. $310,000

Reference no: EM132642778

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