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Big Wheel, Inc. collects 25% of its sales on account in the month of the sale...

Big Wheel, Inc. collects 25% of its sales on account in the month of the sale and 75% in the month following the sale. Sales on account are budgeted to be $18,900 for March and $48,700 for April. What are the budgeted cash receipts from sales on account for April? $

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Answer #1
Cash Receipts in April from Sale of March($18,900*75%) $                        14,175
Cash Receipts in April from Sale of April($48,700*25%) $                        12,175
Total Cash Receipts in April $                        26,350
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