(GChegg Study | Guided Solx the Saved Help Seve & Exit has completed its sales b
ID: 2781269 • Letter: #
Question
(GChegg Study | Guided Solx the Saved Help Seve & Exit has completed its sales budget for the first quarter of Year 2 Projected credit sales for the first four months of the year are shown below anuary $33,000 February$39,eee $48,800 ril$51,000 March The company's past records show collection of credit sales as follows: 33% in the month or sale and the balance ine foing mon The total cash collection from receivables in March is expected to be Multiple Choice $48.000 34 980 Psev 170, 23 Next>Explanation / Answer
Cash collections in March=(33%*March)+(67%*February)(The balance=(100-33)=67%)
=(0.33*48000)+(0.67*39000)
which is equal to
=$41970
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