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TB MC Qu. 20-153 (Algo) Zhang Industries sells a product... Zhang Industries sells a product...

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TB MC Qu. 20-153 (Algo) Zhang Industries sells a product... Zhang Industries sells a product for $800. Unit sales for May were 400 and each month's sales are expected to grow by 4%. Zhang pays a sales manager a monthly salary of $3,000 and a commission of 3% of sales in dollars. Assume 30% of Zhang's sales are for cash. The remaining 70% are credit sales; these customers pay in the month following the sale. Compute the budgeted cash receipts for June. Multiple Choice $232,960. $323,840. $326,930. $320,000. $224,000

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