Accountants at Shell Company Have Prepared the Sales Budget for the First

question 85

Multiple Choice

Accountants at Shell Company have prepared the sales budget for the first quarter of the upcoming year.February sales are budgeted at $175,000.All sales are made on credit.The cash receipts budget for March shows total cash receipts equal to $148,390.Shell grants a 2% discount to customers who pay within 10 days of the invoice.Shell collects 60% of sales within the discount period, 20% in the month of sale but outside the discount period, 15% in the month following sale and the remainder is uncollectible.What are the budgeted sales for March (if necessary, round your answer to the nearest dollar) ?

• A)$193,958
• B)$221,625
• C)$155,000
• D)$314,795

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