FINANCE 510 – Goon Corp. is preparing its cash budget and expects to have sales

Goon Corp. is preparing its cash budget and expects to have sales of $30,000 in January, $35,000 in February, and $35,000 in March. If 20% of sales are for cash, 40% are credit sales paid in the month after the sale, and another 40% are credit sales paid 2 months after the sale, what are the expected cash receipts for March?Select one:a. $24,057b. $26,730c. $29,700d. $33,000e. $36,300

 

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