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What are the total cash receipts in the August budget

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Question - Your Company's sales are 25% in cash and the rest on credit. Fifty percent of the credit sales are collected in the month of sale, 25% in the month following sale, and 20% in the second month following sale. The remainder are uncollectible. The following are budgeted sales data:

May: $70,000

June: $80,000

July: $50,000

August: $40,000

What are the total cash receipts in the August budget?

What are the total cash receipts in the July budget?

Reference no: EM132599876

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