Answered

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Black Horse Transportation's sales budget for the first quarter follows: January$125,000 February 300,000 March290,000 All sales are on account (credit) with 50% collected in the month of sale, 30% collected in the following month after sale, and 20% collected in the second month after sale. There are no uncollectable accounts. The March cash receipts are:

Sagot :

Zviko

Answer:

$260,000

Explanation:

Cash Receipts Calculation - March

March Credit Sales ($290,000 x 50%)          $145,000

February Credit Sales ($300,000 x 30%)      $90,000

January Credit Sales ($125,000 x 20%)         $25,000

Total                                                                $260,000

Therefore,

The March cash receipts are $260,000

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