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Author Question: Accountants at Shell Company have prepared the sales budget for the first quarter of the upcoming ... (Read 52 times)

knemetz3

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Accountants at Shell Company have prepared the sales budget for the first quarter of the upcoming year. February sales are budgeted at $175,000. All sales are made on credit. The cash receipts budget for March shows total cash receipts equal to $148,390. Shell grants a 2% discount to customers who pay within 10 days of the invoice. Shell collects 60% of sales within the discount period, 20% in the month of sale but outside the discount period, 15% in the month following sale and the remainder is uncollectible. What are the budgeted sales for March (if necessary, round your answer to the nearest dollar)?
◦ $193,958
◦ $221,625
◦ $314,795
◦ $155,000


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Marked as best answer by knemetz3 on Feb 5, 2023

MistyHubbard

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knemetz3

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Reply 2 on: Feb 5, 2023
Excellent


dyrone

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

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