Question - A Company has the following sales budget for the first three months of the current year:
Month Sales Revenue
January $600,000
February 150,000
March 440,000
- 65 percent in month of sale
- 25 percent in month following sale
- 8 percent in second month following sale
- 2 percent uncollectible
November and December sales were $100,000 and $200,000, respectively.
What is budgeted cash collections from sales for February?