The Khaki Corporation's budgeted cash receipts for April is $383,000.
Data andCalculations:
January February March April
Cash Sales $70,000 $90,000 $80,000 $70,000
Credit Sales $400,000 $350,000 $300,000 $320,000
<u>Cash collections</u>:
40% sales month $160,000 $140,000 $120,000 $128,000
50% 1st month $200,000 $175,000 $150,000
10% 2nd month $40,000 $35,000
Total collections from credit sales for April $313,000
Cash Sales $70,000 $90,000 $80,000 $70,000
Total budgeted cash receipts for April = $383,000
Thus, the budgeted cash receipts for the month of April would be $383,000.
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