Projected monthly sales of Wallstead Corporation for January, February, March, and April are as follows:

.The company bills each month's sales on the last day of the month.
.Receivables are booked gross and credit terms of sale are: 2/10, n/30.
.50% of the billings is collected within the discount period, 30% is collected by the end of the month, 15% is collected by the end of the second month, and 5% becomes uncollectible.
Budgeted cash collections for Wallstead Company during April would be:
A) $343,300
B) $347,000
C) $349,300
D) $353,000

Question

Projected monthly sales of Wallstead Corporation for January, February, March, and April are as follows:
 
.The company bills each month's sales on the last day of the month.
.Receivables are booked gross and credit terms of sale are: 2/10, n/30.
.50% of the billings is collected within the discount period, 30% is collected by the end of the month, 15% is collected by the end of the second month, and 5% becomes uncollectible.
Budgeted cash collections for Wallstead Company during April would be:
A) $343,300 
B) $347,000 
C) $349,300 
D) $353,000

Quizplus · Accepted Answer

The Answer of Projected monthly sales of Wallstead Corporation for January, February, March, and April are as follows:
 
.The company bills each month's sales on the last day of the month.
.Receivables are booked gross and credit terms of sale are: 2/10, n/30.
.50% of the billings is collected within the discount period, 30% is collected by the end of the month, 15% is collected by the end of the second month, and 5% becomes uncollectible.
Budgeted cash collections for Wallstead Company during April would be:
A) $343,300 
B) $347,000 
C) $349,300 
D) $353,000

Projected Monthly Sales of Wallstead Corporation for January, February, March