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Information pertaining to John Corporation's sales revenue is represented in the given table:

                    February      March       April

  Cash Sales   $160,000     $150,000    $120,000
 Credit Sales    300,000     400,000    280,000
  Total Sales   $460,000    $550,000   $400,000

Management estimates that 5 percent of credit sales are not collectible. Of the credit sales which are collectible, 60% are collected in the month of sale and the remainder in the month given the sale. Cost of purchases of inventory each month is 70% of the next month's projected total sales. Purchases of inventory are on account; 25% are paid in the month of purchase and the remainder is paid in the month given the purchase.

John's budgeted total cash receipts in April are??

Accounting Basics, Accounting

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  • Reference No.:- M919133

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