Information pertaining to Brenton Corporation’s sales revenue is presented in the

following table: February March April Cash Sales$160,000 $150,000 $120,000 Credit Sales 300,000 400,000 280,000 Total Sales$460,000 $550,000400,000 Management estimates that 5% of credit sales are not collectible. Of the credit sales that are collectible, 75% are collected in the month of sale and the remainder in the month following the sale. Cost of purchases of inventory each month is 80% of the next month’s projected total sales. All purchases of inventory are on account; 50% are paid in the month of purchase, and the remainder is paid in the month following the purchase.

Brenton’s budgeted total cash receipts in April are

$448,000.

       $414,500.

       $431,600.

       $328,000. 

Looking for a Similar Assignment? Order now and Get 10% Discount! Use Coupon Code "Newclient"