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## Accounting

 Accounting Basics Cost Accounting Financial Accounting Managerial Accounting Auditing Taxation

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

• Category:- Accounting Basics
• Reference No.:- M919133

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