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Question - Spajer Company has both cash sales and sales on account. In a typical month, 40% of its sales are debited to Cash at the time of the sale and 60% of sales are debited to Accounts Receivable. 20% of the sales on account (Accounts Receivable) are collected in the month of the sale and 30% are collected in the month following the sale. For Q2 of 2022 the company forecasts the following Sales:
Month Sales
April $620,000
May $620,000
June $230,000
Spajer forecasts the beginning balance of Accounts Receivable on April 1 to equal $300,000. What is the total amount of Sales forecasted for Q2?
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