All of Porter Corporation's sales are on account.Sixty percent of the credit sales are collected in the month of sale,25% in the month following sale,and 10% in the second month following sale.The remainder are uncollectible.The following are budgeted sales data for the company: Cash receipts in April are expected to be:
A)$420,000
B)$545,000
C)$605,000
D)$185,000

Question

All of Porter Corporation's sales are on account.Sixty percent of the credit sales are collected in the month of sale,25% in the month following sale,and 10% in the second month following sale.The remainder are uncollectible.The following are budgeted sales data for the company:  Cash receipts in April are expected to be:
A)$420,000 
B)$545,000 
C)$605,000 
D)$185,000

Quizplus · Accepted Answer

Cash collections for April:
 11eaa3fe_326a_ec29_908b_31a44af2daeb_TB2461_00

All of Porter Corporation's Sales Are on Account