A Company Is Formulating Its Plans for the Coming Year,including

question 72

Multiple Choice

A company is formulating its plans for the coming year,including the preparation of its cash budget.Historically,the company's sales are 30% cash.The remaining sales are on credit with the following collection pattern: Sales for the first 5 months of the coming year are forecast as follows:
For the month of April,the total cash receipts from sales and collections on account would be (CIA adapted)

• A)$3,729,968
• B)$3,781,600
• C)$4,025,200
• D)$4,408,000