ECONOMICS
BUDGETING
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Question
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A company’s past experience indicates that 60% of its credit sales are collected in the month of sale, 30% in the next month, and 5% in the second month after the sale; the remainder is never collected. Budgeted credit sales were:January $360, 000 February 216, 000 March 540, 000 The cash inflow in the month of March is expected to be
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$406, 800.
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$307, 800.
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$324, 000.
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$388, 800.
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Explanation:
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