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The WRT Corporation makes collections on sales according to the following schedule: 30% in month of sale 60% in month following sale 5% in second month following sale 5% uncollectible The following sales have been budgeted: Sales April $ 158,000 May $ 128,000 June $ 141,000 Budgeted cash collections in June would be:

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Answer:

Budgeted cash collections in June would be: $127,000

Explanation:

Calculation of the Budgeted Collections for June

In the Month of Sale ($ 141,000 × 30 %)                 = $42,300

In Month following Sale ($ 128,000 ×60%)             = $76,800

In Second Month following sale ($ 158,000 × 5%) =   $7,900

Total Budgeted Collections for June                      = $127,000

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