Mathematics · Cash Budgeting
BD is preparing a cash budget. An extract from its sales budget shows the following sales: March: $60,000 April: $70,000 May: $55,000 June: $65,00040% of its sales are expected to be for cash. Of its credit sales, 70% are expected to pay in the month after sale and take a 2% discount; 27% are expected to pay in the following month (the second month after sale), and the remainder are presumed to be irrecoverable. What amount should be included for receipts from sales in the cash budget for May?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1$65,200
- 2$64,220
- 3$60,532✓
- 4$38,532
Correct answer
$60,532
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