Cash sales are 30 of total sales and all credit sales are, Ask an Expert

Accounting

Lebanon shoe company has the following budgeted sales for the next five months:
January $185,000
February $214,000
March $236,000
April $231,000
May $218,000

Cash sales are 30% of total sales and all credit sales are expected to be collected in the month after the sale. What is the total amount of cash expected to be received from customers in May?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9414672

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