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Tiny Toons distributes cartoon DVDs that sell for $12 each.Tiny Toons pays $7 per DVD to buy the product.Selling costs of $1 per unit are incurred to deliver the DVDs to the customer.This is paid in cash when the product is sold.Tiny Toons has $50,000 per month in fixed selling and administrative expenses (including $3,000 in depreciation) , which are paid half in the month incurred and half in the next month.It is Tiny's policy to maintain an inventory at the end of each month equal to 30% of the next month's projected unit sales.
Tiny Toons makes 30% of sales in cash, and the remainder are on credit.Credit sales are collected in the month after sale.Budgeted monthly sales for the first five months of 2017 are:
How much are budgeted cash receipts for February?
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