The Chadmark Corporation's total cash receipts for a typical month is $2,976.
Data and Calculations:
Budgeted monthly sales = $3,000
Credit terms = 2/10 net 45
Percentage that take discount = 40%
Sales with discount =$1,200 ($3,000 x 40%)
Cash receipts from the 40% customers = $1,176
Cash Discounts =$24
Sales without discount = $1,800 ($3,000 x (1 - 40%)
Total cash receipts = $2,976 ($1,800 + $1,176)
Thus, Chadmark's total cash receipts for typical month is $2,976.
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