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Big Wheel, Inc. collects 25% of its sales on account in the month of the sale and 75% in the month following the sale. Sales on account are budgeted to be $17,900 for March and $50,600 for April. What are the budgeted cash receipts from sales on account for April

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Zviko

Answer:

$26,075

Explanation:

Follow the  Receipt Cycle that has been stated but this time focusing on the month of April

Receipts :

Collection for April Sales ( $50,600 × 25%)  = $12,650

Collection for March Sales ( $17,900 × 75%) = $13,425

Total Collection in April                                  = $26,075

Therefore, Total cash receipts from sales on account for April  are  $26,075.

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