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Martinez Corporation's sales of gizmos are 25% for cash and 75% on credit. Past collection history indicates that credit sales are collected as follows:
Month of Sale Month After Sale Second Month After Sale Uncollectible
30% 50% 15% 5%


In January, sales were $80,000 and February sales were $70,000. Projected sales for March are 3,000 gizmos at $13 each. Projected sales for April are 4,000 gizmos at $14 each. find out the budgeted cash collections for April.

 

Accounting Basics, Accounting

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