(Answered) Home company will open a new store on january 1 2000 based

Accounting

Home Company will open a new store on January 1, 2000. Based on experience from its other retail outlets, Home Company is making the following sales projections:

	Cash Sales	Sales on Account
January	$60,000	$40,000
February	$30,000	$50,000
March	$40,000	$60,000
April	$40,000	$80,000

Home estimates that 70% of the sales on account will be collected in the month following the month of sale, with the balance collected in the second month following sale.

In a cash budget for the month of April, the total cash receipts will be

The balance in accounts receivable on January 31, 2000 will be

The March 31, 2000, balance in accounts receivable will be

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