Singal Inc. is preparing its cash budget. It expects to have
sales of $30,000 in January,...
70.2K
Verified Solution
Link Copied!
Question
Finance
Singal Inc. is preparing its cash budget. It expects to havesales of $30,000 in January, $35,000 in February, and $20,000 inMarch. If 20% of sales are for cash, 40% are credit sales paid inthe month after the sale, and another 40% are credit sales paid 2months after the sale, what are the expected cash receipts forMarch?
a. $34,200
b. $28,200
c. $24,600
d. $30,000
e. $27,600
Answer & Explanation
Solved by verified expert
3.8 Ratings (637 Votes)
See Answer
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
