Zhang Industries sells a product for $600. Unit sales for May were 500 and each...
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Accounting
Zhang Industries sells a product for $600. Unit sales for May were 500 and each month's sales are expected to exceed the prior month's results by 2%. Zhang pays a sales manager a monthly salary of $4,500 and a commission of 1% of sales in dollars. Assume 35% of Zhang's sales are for cash. The remaining 65% are credit sales; these customers pay in the month following the sale. Compute the budgeted cash receipts for June.
a. 300,000
b. 302,100
c. 195,000
d. 198,900
e. 306,645
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