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s2008m [1.1K]
2 years ago
10

Big Wheel, Inc. collects 25% of its sales on account in the month of the sale and 75% in the month following the sale. Sales on

account are budgeted to be $16,300 for March and $32,600 for April. What are the budgeted cash receipts from sales on account for April
Business
1 answer:
Kitty [74]2 years ago
6 0

Answer:

Total cash collection= $20,375

Explanation:

Giving the following information:

Big Wheel, Inc. collects 25% of its sales on account in the month of the sale and 75% in the month following the sale.

<u>Sales:</u>

March= $16,300

April= $32,600

<u>Cash collection April:</u>

Sales on account from April= 32,600*0.25= 8,150

Sales on account from March= 16,300*0.75= 12,225

Total cash collection= $20,375

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