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What are the estimated cash collections in May

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Reference no: EM132932975

Question - Lee's Appliances forecasts the following sales figures for the next four months.

April $250,000

May $150,000

June $225,000

July $150,000

Cash sales average 10 per cent of total sales and credit sales are collected 50 per cent in the month of sale and 50 per cent in the month following sale. What are the estimated cash collections in May?

a) $195,000

b) $215,000

c) $150,000

d) $207,500

Reference no: EM132932975

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