Question 26 3.333 pts Amant Inc. has accumulated the following budget informatio

Question

Question 26 3.333 pts Amant Inc. has accumulated the following budget information for the next two months: Total Sales for March $240,000 and Total Sales for April . $200,000. The company expects to sell 40% of its merchandise for cash. Of the sales on account, 80% are expected to be collected in the month of the sale and the remainder in the following month. The balance of Accounts Receivable was $45,000 on March 1. What would be the expected amount of the cash sales for the month of March? $240,000 0 $200,000 $96.000 o $80,000

Explanation / Answer

Cash Sales for March = Total Sales Expected for March* 40%

= $ 240,000 *40%

= $ 96,000

Hence the correct answer is $ 96,000

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