Answer:
$47,200
Explanation:
Given that,
Sales in May = $40,000
Sales in June = $52,000
Cash sales = 60% of total sales
Credit sales = 40% of total sales (it will be paid in the month following the sale)
Cash sales for June:
= Budgeted sales - Ending accounts receivable
= $52,000 - (40% of $52,000)
= $52,000 - $20,800
= $31,200
Total Budgeted cash receipts for June:
= Cash sales for June + Collection of last months receivables(May credit sales)
= $31,200 + (40% of $40,000)
= $31,200 + $16,000
= $47,200
