Question: Martinez Corporation's sales of gizmos are 100% on credit. Past collection history indicates that credit sales are collected as follows:
Month of Sale
Month After Sale
Second Month After Sale
Uncollectible
35%
45%
15%
5%
In January, sales were $80,000 and February sales were $70,000. Projected sales for March are 3,000 gizmos at $16 each. Projected sales for April are 4,000 gizmos at $15 each. Calculate the budgeted cash collections for April.