96) Fielding Wilderness Outfi tters had projected its sales for the fi rst six m

Question

96) Fielding Wilderness Outfi tters had projected its sales for the fi rst six months
of 2008 to be as follows:
Jan. $ 50,000 April $180,000
Feb. $ 60,000 May $240,000
Mar. $100,000 June $240,000
Cost of goods sold is 60% of sales. Purchases are made and paid for two months
prior to the sale. 40% of sales are collected in the month of the sale, 40% are
collected in the month following the sale, and the remaining 20% in the second
month following the sale. Total other cash expenses are $40,000/month. The
company

Explanation / Answer

the fielding project total receipts $124,000 thank you

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