Five Friends Relocation Company prepared the following sales budget: Cash Sales Credit Sales $16,000 $12,000 $38,000 $11,000 $43,000 $42,000 $55,000 $52,000 Month March April May June Credit collections are 32% in the month of sale, 40% in the month following the sale, and 20% two months following the sale. The remaining 8% is expected to be uncollectible. What is the total cash received in April to account for the April sales at Five Friends Relocation Company? OA. $41,840 OB. $3,520 OC. $3,840 D. $41,520 CITE

Five Friends Relocation Company prepared the following sales budget: Cash Sales Credit Sales $16,000 $12,000 $38,000 $11,000 $43,000 $42,000 $55,000 $52,000 Month March April May June Credit collections are 32% in the month of sale, 40% in the month following the sale, and 20% two months following the sale. The remaining 8% is expected to be uncollectible. What is the total cash received in April to account for the April sales at Five Friends Relocation Company? OA. $41,840 OB. $3,520 OC. $3,840 D. $41,520 CITE

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter7: Budgeting

Section: Chapter Questions

Problem 12PB: Before the year began, the following static budget was developed for the estimated sales of 50,000....

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